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please how do i prepare the journal entry X- oil Inc. ships merchandise on consignment to Fox Fixtures, a retailer on February 24, 2015. The
please how do i prepare the journal entry
X- oil Inc. ships merchandise on consignment to Fox Fixtures, a retailer on February 24, 2015. The cost of the merchandise is 528,000 and X-ce Inc. pay the freight cost of $2,200 to ship the goods to the retaler. On September 30, 2015 (Fox Fixtures accounting year end), Fox Fixtures notes X-calling that 65% of the merchandise has been sold for $56,000. Fox Fixtures retains a 10% commission as well as $1,000, which represents advertising costs it paid, and rerrits the balance owing to X-cell Inc. Please make sure your final answers) are accurate to 2 decimal places. ) Complete tra journal entries required by X-cell Inc. for the above transactions, Enter an appropriate description when entering in the journal. Dates must be entered in the format ddmm (le. January 15 would be 15/Jan) 5) Complete the journal entries required by Fox Fixtures for the above transactions on their accounting your end. Enter an appropriate description when entering the transactions in the Juma Dal must be entered in the format dd/mmm (ie January 15 would be 15/Jan) Carral Accent Expiation PR Date Credit CS Scanned with Camscanner LI Step by Step Solution
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