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Prepare journal entries for June 2014 to record the following transactions for Holden Corp. Assume a perpetual inventory system Enter the transaction letter as the
Prepare journal entries for June 2014 to record the following transactions for Holden Corp. Assume a perpetual inventory system Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions Dates must be entered in the format dd/mmm (ie. 15/Jan). a June 4. Holden Corp's merchandise that cost $7,905 was sold to Southgate Inc for $9,300 under credit terms of 2/15, n/30, FOB shipping point b June 13. Holden Corp sold merchandise to Dylex Corporation for $5,900 under credit terms of 2/10, n/90, FOB shipping point. The merchandise had cost $4,720 June 14. Dylex Corporation requested a price reduction on the June 13 sale because the merchandise did not meet specifications Sent Dylex Corporation a credit memorandum for $2,800 to resolve the issue. d. June 15. Received the balance due from Dylex Corporation for the sale dated June 13 e June 22 Holden Corp. sold merchandise to Global Filter Corp that cost $4,000 for $5,000 cash June 25. Received the balance due from Southgate Inc for the sale dated June 4 Please use the '+' and buttons to change the number of accounts (if necessary) for each journal entry General Journal Page GUB Dale Account Explanation F Debit Credit # = os Prepare journal entries for June 2014 to record the following transactions for Holden Corp. Assume a perpetual inventory system. Enter the transaction letter as the description when preparing a journal entry. When a transaction requires two separate journal entries, use the same letter for both descriptions. Dates must be entered in the format dd/mmm (ie. 15/Jan). a. June 4: Holden Corp's merchandise that cost $7,905 was sold to Southgate Inc. for $9,300 under credit terms of 2/15, n/30, FOB shipping point b. June 13: Holden Corp. sold merchandise to Dylex Corporation for $5,900 under credit terms of 2/10, n/90, FOB shipping point. The merchandise had cost $4,720 C. June 14: Dylex Corporation requested a price reduction on the June 13 sale because the merchandise did not meet specifications. Sent Dylex Corporation a credit memorandum for $2,800 to resolve the issue d. June 15: Received the balance due from Dylex Corporation for the sale dated June 13. e. June 22: Holden Corp. sold merchandise to Global Filter Corp. that cost $4,000 for $5,000 cash f. June 25. Received the balance due from Southgate Inc. for the sale dated June 4. Please use the 't' and buttons to change the number of accounts (if necessary) for each journal entry General Journal Page GJS Date Account Explanation F Debit Credit + + L
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