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please upload complete solution tof NorthWave Products has provided you with the following transactions for the month of April 2019, Apr 8 Purchased $237,500 of
please upload complete solution
tof NorthWave Products has provided you with the following transactions for the month of April 2019, Apr 8 Purchased $237,500 of inventory on account, terms 2/10, net 30 Apr A portion of the inventory from the above purchase was defective. NorthWave returned $600 worth of inventory 10 to the supplier Apr Sold $102,200, of products to South Shore on account terms 2/10, net 30; cost of goods sold was $40,880 for 12 this transaction Apr Customer from Apr 12 purchase paid their amount owing and claimed their discount 14 Apr A customer returned $1,070 of goods purchased on account. The cost of goods sold for the returned inventory 21 is $642 Apr Purchased goods from East Coast Products on account for $19,500 with terms of 3/10, net 30. 22 Apr Made a cash sale of $10,000 The cost of goods sold for this transaction was $6,000 23 Apr 25 Took advantage of discount offered and paid up amount owing to East Coast Products from Apr 22 purchase. Required Prepare the journal entries to record the above transactions. Assume the company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. For each transaction, enter the Debit account(s) first. For transactions that have 2 debits or 2 credits, enter the accounts in alphabetical order. Date Account Title and Explanation Debit Credit Apr 8 Accounts Payable Purchased inventory on account Apr 10 Returned defective goods Apr 12 . . . Record sales on account Record sales on account > Apr 14 Paid amount owing to EastCoast Step by Step Solution
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