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Please help with questions 9, 10, 25 USe this information for the next 5 questions for Jones0Ja. 2, 14 beaining inventory accounting system) is as
Please help with questions 9, 10, 25
USe this information for the next 5 questions for Jones0Ja. 2, 14 beaining inventory accounting system) is as follows Jan. 2: J terms of 1/10, N/30. Jan. 10: Jones paid for the 14: Jones sold to a customer on account, te at a sales price of $500 each it was the wrong color r ones purchased 20 tables at $300 each on account e 20 tables purchased on Jan. 2, net of the discount. Jan Furniture Store (assume Jones uses a perpetua n Jan. 2 0 ta/a t, with terms of 3/10, N/30, five of the tables purchase. r and receivedthe customer returned one of the tables sold on Jan e qjer the Jan. 16 return, less the discount for early payment r on her account. Jan. 23. The customer paid the remaining 6. The journal entry by Jones for the Jan. 2 purchase Cost of Goods Sold ,000 b. Inventory Accounts Payable 5,000 ash 6,000 . Purchases Accounts Payable Purchases ,000 ash ,000 D. d E. none of these The journal entry by Jones for the Jan. 10 payment would include a credit to A. Accounts Payable for $6,000 B. Cash for $6,000. C. Inventory for $60. D. Sales Discounts for $60. E. none of these 7. The journal entry(ies) by Jones for the Jan. 14 sale wo A. Sales Revenue and Inventory. B. Sales Revenue and Cost of Goods Sold. C. Ac 8. counts Receivable and Inventory counts Receivable and Sales Revenue. E. none of theseStep by Step Solution
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