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please complete asap Prepare journal entries for October 2014 to record the following transactions for Courtland Corp. Assume a perpetual inventory system. Enter the transaction
please complete asap
Prepare journal entries for October 2014 to record the following transactions for Courtland Corp. Assume a perpetual inventory system. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). a. October 5: Courtland Corp.'s merchandise that cost $4,845 was sold to Northstar Corp. for $5,700 under credit terms of 2/15, n/30, FOB shipping point. b. October 6: Courtland Corp. sold merchandise that cost $4,480 to Gulf Corp. for $5,600 under credit terms of n/90, FOB shipping point. c. October 8: Received the balance due from Northstar Corp. for the sale dated October 5. d. October 26: Gulf Corp. requested a price reduction on the October 6 sale because the merchandise did not meet specifications. Sent Gulf Corp. a credit memorandum for $1,600 to resolve the issue. e. October 27: Courtland Corp. sold merchandise to Holden Corp. that cost $6,205 for $7,300 cash. f. October 31: Received Gulf Corp.'s payment of the amount due from the October 6 sale. Please use the 't' and '' buttons to change the number of accounts (if necessary) for each journal entry. General Journal Page GJ8 Date Account/Explanation F Debit Credit 23 + + + 1 - + + +1Step by Step Solution
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