QUESTION 11 Use the following chart of accounts to prepare the entry Chart of Accounts Cash (101), Accounts Receivable (102), Merchandise Inventory (103), Equipment (110), Accounts Payable (201), Capital (301), Sales (401), Sales Discounts and Allowances (402), Cost of Goods sold (501), Misc Expenses (503) On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2 10, n 30 The cost of the items sold is $4,500 Prepare the March 12 journal entries for Klein Clearly explain the accounts and amounts to be debited or credited This question is eligible for partial credit QUESTION 12 Use the following chart of accounts Chart of Accounts Cash (101), Accounts Receivable (102), Merchandise Inventory (103), Equipment (110), Accounts Payable (201), Capital (301), Sales (401), Sales Discounts and Allowances (402), Cost of Goods sold (501), Misc Expenses (503) On March 15, Babson returns some of the merchandise, which is not defective The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350 Make Kleins entry(ies) for this transaction Clearly explain the accounts and amounts to be debited or credited This question is eligible for partial credit QUESTION 13 Use the following chart of accounts Chart of Accounts Cash (101), Accounts Receivable (102), Merchandise Inventory (103), Equipment (110), Accounts Payable (201), Capital (301), Sales (401), Sales Discounts and Allowances (402), Cost of Goods sold (501), Misc Expenses (503) On March 17, Babson pays in cash the amount due to Klein for the March 12 sale Make Kleins entries to reflect the payment Clearly explain the accounts and amounts to be debited or credited This question is eligible for partial credit need answer for question 13

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QUESTION 11

Use the following chart of accounts to prepare the entry

Chart of Accounts: Cash (101), Accounts Receivable (102), Merchandise Inventory (103), Equipment (110), Accounts Payable (201), Capital (301), Sales (401), Sales Discounts and Allowances (402), Cost of Goods sold (501), Misc. Expenses (503)

On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Prepare the March 12 journal entries for Klein.

Clearly explain the accounts and amounts to be debited or credited. This question is eligible for partial credit

QUESTION 12

Use the following chart of accounts: Chart of Accounts: Cash (101), Accounts Receivable (102), Merchandise Inventory (103), Equipment (110), Accounts Payable (201), Capital (301), Sales (401), Sales Discounts and Allowances (402), Cost of Goods sold (501), Misc. Expenses (503)

On March 15, Babson returns some of the merchandise, which is not defective. The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. Make Kleins entry(ies) for this transaction.

Clearly explain the accounts and amounts to be debited or credited. This question is eligible for partial credit

QUESTION 13

Use the following chart of accounts Chart of Accounts: Cash (101), Accounts Receivable (102), Merchandise Inventory (103), Equipment (110), Accounts Payable (201), Capital (301), Sales (401), Sales Discounts and Allowances (402), Cost of Goods sold (501), Misc. Expenses (503)

On March 17, Babson pays in cash the amount due to Klein for the March 12 sale. Make Kleins entries to reflect the payment

Clearly explain the accounts and amounts to be debited or credited. This question is eligible for partial credit

need answer for question 13