Question
Prepare the journal entries to record the following transactions on Sheridan Companys books using a perpetual inventory system. (If no entry is required, select No
Prepare the journal entries to record the following transactions on Sheridan Companys books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
(a) | On March 2, Skysong Company sold $944,100 of merchandise to Sheridan Company on account, terms 3/10, n/30. The cost of the merchandise sold was $529,100. | |
(b) | On March 6, Sheridan Company returned $112,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $60,100. | |
(c) | On March 12, Skysong Company received the balance due from Sheridan Company. |
No. | Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|---|
(a) | choose a transaction date March 2March 6March 12 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | ||
(b) | choose a transaction date March 2March 6March 12 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | ||
(c) | choose a transaction date March 2March 6March 12 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | ||
enter an account title | enter a debit amount | enter a credit amount |
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