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pls help ASAP! Peaceful Place Gift Shop uses a perpetual inventory system Journaize the following transactions for Peaceful Place Gift Shop Explanations are not required
pls help ASAP!
Peaceful Place Gift Shop uses a perpetual inventory system Journaize the following transactions for Peaceful Place Gift Shop Explanations are not required (Record debits first, then credits Exclude explanations from journal estnes Assume the company records sales at the net amount Round all numbers to the nearest whole dollar) (Click the icon to view the transactions) Feb Purchased $2.600 of merchandise inventory on account under terms 3/10, nEOM and FOB shipping point from Sassy's Flowers Date Accounts Debit Credit Feb/3 Feb 7 Returned $400 of defective merchandise purchased on February 3, Date: Accounts Debit Credit Feb 7 Feb. 9. Paid freight bill of $600 on February 3 purchase. Debit Credit Date Accounts Feb 9 Peaceful Place Git Shop uses a perpetual swentory system. Journalize the totowing transactions for Peaceful Place Gift Shop Explanations are not required (Record debits first, then credes Exclude explanations from journal entries. Assume the company reconds sales at the net amount Round all numbers to the nearest whole dolar) (Click the icon to view the transactions) Feb 10 Sold merchandise inventory on account for $4,000 to Thyme Table Payment terms were 1/15, 600 These goods cost the company $2.000 Degin by preparing the entry to joumalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date Accounts Debit Credit Feb 10 youmalize the expense related to the February 10 sate-Cost of goods, $2.000 Debit Credit Date Accounts Feb 10 Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount the company records sales at the net amount Round at numbers to the nearest whole data) y system, Jounasze the following transactions for Peaceful Place Gift Shop Explanations are not required (Record debits first, then credes Excude explanations trom journal entries. Assume (Click the icon to view the transactions) Feb. 10 Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount Date Accounts Debit Credit Feb 12 Feb. 28 Received cash from Thyme Table in full settlement of the debt Date Accounts Credit Feb 26 Debit al inventory system. Journalize the following transactions for Peaceful Place Gift Shop. Explanations are not requi s. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) ons.) -X More info Feb. 3 Feb. 7 Purchased $2,600 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point from Sassy's Flowers. Returned $400 of defective merchandise purchased on February 3. Paid freight bill of $600 on February 3 purchase. Feb. 9 Feb. 10 Sold merchandise inventory on account for $4,000 to Thyme Table. Payment terms were 1/15, n/30. These goods cost the company $2,000. Paid amount owed on credit purchase of February 3, less the return and the discount. Feb. 12 Feb. 28 Received cash from Thyme Table in full settlement of their debt. Print Done purchase Account Table in fu Account Step by Step Solution
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