Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please just make sure that everything is right and do the whole problem. I really need to understand to pass this class. Thank you. Check

image text in transcribed

image text in transcribed

image text in transcribed

Please just make sure that everything is right and do the whole problem. I really need to understand to pass this class. Thank you.

Check my work 6 01 points Brief Exercise 6-11 Record freight charges for inventory using a perpetual system (L06-5) Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $23.000 In addition to the cost of inventory, the company also pays $430 for freight charges associated with the purchase on the same day. Record the purchase of inventory on February 2, including the freight charges. (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 0.71 points Record the purchase of inventory on account Credit Note: Enter debits before credits Date General Journal February 02 Inventory Accounts Payable Debit 23,000 23.000 Record entry Clear entry View general purna 6 Journal entry worksheet 071 Record the payment of freight charges in cash. look Note: Enter debits before credits Date General Journal February 02 Accounts Payable Debit Credit Record entry Clear entry Views general journal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: George H. Bodnar, William S. Hopwood

8th Edition

0130861774, 9780130861771

More Books

Students also viewed these Accounting questions

Question

2.7 Identify how privacy legislation impacts employees.

Answered: 1 week ago