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please help! 1 3 5 6 The following selected transactions were completed by Betz Company during Juy of the current year. Betz Company uses the
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1 3 5 6 The following selected transactions were completed by Betz Company during Juy of the current year. Betz Company uses the net method under a perpetual inventory system. July Purchased merchandise from Sabol imports Co. $20,500, terms FO destination, 130. Purchased merchandise from Saxon Co, $12,000, terms FOB shipping point, 2/10, nieom. Prepaid freight of $75 was added to the invoice Purchased merchandise from Schnee Co. 58,000, torms FOB destination, 2/10, 900, Issued debit memo to Schnee Co. for merchandise with an invoice amount of $1,500 returned from purchase on July Pald Saxon Co. for invoice of July 3. Paid Schnee Co for invoice of July 5, less debt memo of July 6. Purchased merchandise from Southmont Co. $18.900, torms FOB shipping point, neom. Puid freight of $140 on July 19 purchase from Southmont Co. Purchased merchandise from Stevens Co $30,000, torms FOB destration, 1/10, 1/30 30 Paid Stevens Co. for invoice of July 20. Paid Sabol imports Co. for invoice of July 1. Paid Southmont Co. for invoice of Juy 19, 13 14 19 19 20 31 31 Journalize the entries to record the transactions of Betz Company for Justy Refer to the Chart of Accounts for exact wording of accountitles CHART OF ACCOUNTS Betz Company General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 120 Accounts Receivable 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 195 Accumulated Depreciation Office Equipment 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Sabol Imports Co. 212 Accounts Payable-Saxon Co. 213 Accounts Payable-Schnee Co. 214 Accounts Payable-Southmont Co. 215 Accounts Payable-Stevens Co. 216 Salaries Payable 218 Sales Tax Payable 219 Customer Refunds Payable 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Journalze the antros to record the transactions of Betz Company for Suy Hoter to the Chart of Accounts for exact worting of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTREK DEBIT CREDIT ASSETS LABILMES EQUITY 2 5 10 11 12 13 Step by Step Solution
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