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please help me someone During its first year of operations, Drone Zone Corporation (DZC) bought goods from a manufacturer on account at a cost of
please help me someone
During its first year of operations, Drone Zone Corporation (DZC) bought goods from a manufacturer on account at a cost of $56,000. DZC returned $8,600 of this merchandise to the manufacturer for credit on its account. DZC then sold $44,000 of the remaining goods at a selling price of $70,600. DZC records sales returns as they occur and then records estimated additional returns at year-end. During the year, customers returned goods and were issued gift cards equal in amount to the initial selling price of $7.400. These goods were in perfect condition, so they were put back into DZC's inventory at theif cost of $4,600. At year-end, DZC estimated $9,610 of current-year merchandise sales would be returned to DZC in the following year; DZC estimates $5,900 as its cost of this merchandise. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 245678> Record the purchase of goods from a manufacturer on account for $56,000. Note: Enter debits before credits. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5678> Record the return of goods to the manufacturer at $8,600. Note: Enter debits before credits. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventor required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory syste required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory sysi required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory system. (If ny required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Step by Step Solution
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