Q2)

ch 5, 6, 8 Chapter 5 XYZ is a merchandizing company, the following transactions took place in January 2012 January 3 Sold S1.200 of goods to Display town, terms 2/15, e.o.m. "(Cost $760) January 5 Display town returned of goods $300 (Cost $195 ) January 9 Purchased $1,300 of Inventory from Top showroom, terms 2/10, 1/15 January 11 Sold $880 of goods to Sub-Bun, terms 2/15, n/e.o.m. (cost $ 470) January 13 Pald the amount owed to Top showroom. January 19 Received payment from Sun-Bun. January 22 Received payment from Display town. January 30 XYZ records shows $8,000 inventory ending balance, and the physical count revealed $7,800 worth Inventory Further information: Total administrative expense for January is 400. Total selling Expenses for January is $ 200. Requirements: 1. Journalize January transactions. 2. Prepare the Multiple-step Income statement MTUN ch 5,6,8 Chapter 5 XYZ is a merchandizing company, the following transactions took place in January, 2012: January 3 Sold S1,200 of goods to Display town, terms 2/15, 1ve.o.m. "(Cost $760 ) January 5 Display town returned of goods $300 (Cost $195) January 9 Purchased $1,300 of Inventory from Top showroom, terms 2/10, 1/15 January 11 Sold $880 of goods to Sub-Bun, terms 2/16, n/e.o.m. (cost $ 470) January 13 Pald the amount owed to Top showroom. January 19 Received payment from Sun-Bun. January 22 Received payment from Display town. January 30 XYZ records shows 58,000 inventory ending balance, and the physical count revealed $7,800 worth Inventory Furthor Information: Total administrative expense for January is 400. Total selling Expenses for January is $ 200. Requirements: 1. Journaltze January transactions. 2. Prepare the Multiple-step Income statement