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Please help explain how you would get to an anwser. If possible, please use the 4 columns that they provide. Thank you! Prepare journal entries
Please help explain how you would
Prepare journal entries to record the merchandising transactions below for January 2019, assuming that the perpetual inventory system is used: Check figure: Total Debits $287480. (a) TRANSACTONS FOR REQUIREMENT (1) Presented below are selected inventory transactions for Kauai Cookie Company. Inc. during January 2019 Jan. 2 Sold $10,500 of merchandise on account to Ke ki's Place, terms 2/10, n/30, FOB destination. Cost of merchandise, $7,360 5 Paid $200 of shipping costs to Island Freight Co. for the merchandise sold on January 2. 6 Keiki's Place returned $1,200 of merchandise sold on January 2 for credit on account. Cost of merchandise returned, $850 7 Purchased $88,000 of merchandise on account from Confectionary World Corporation, terms 1/10, n/30, FOB shipping point 8 Paid $450 of shipping costs to Island Freight Co. for the merchandise purchased on January 7 Received payment from Keiki's Place for the balance due from the January 2 sale, less the January 6 return (hint: payment is within the discount period) 11 13 Sold $14,700 of merchandise for cash to Hula Stores. Cost of merchandise, $10,320. 16 Paid Confectionary World Corporation the balance due from the January 7 purchase (hint payment is within the discount period) 25 Purchased $54,000 of merchandise on account from Chocolate Paradise Company, terms n/30 29 Returned, for credit on account, $2,600 of merchandise purchased from Chocolate Paradise Company on January 25 COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) Page 127 GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT 2019 REQUIREMENT)JOURNAL ENTRIES: Page 128 COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) GENERAL JOURNAL DATE DEBIT CREDIT ACCOUNT TITLES 2019 get to an anwser. If possible, please use the 4 columns that they provide. Thank you!
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