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Question 2 of 3 < Current Attempt in Progress On October 5, Sunland Flowers buys merchandise on account from Marigold Gardens. The selling price
Question 2 of 3 < Current Attempt in Progress On October 5, Sunland Flowers buys merchandise on account from Marigold Gardens. The selling price of the goods is 4,840, and the cost to Marigold is 3,120. On October 8, Sunland returns defective goods with a selling price of 660 and a net realizable value of 165. Record the transactions on the books of Sunland. (Assume a perpetual inventory system.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Sunland Leather Goods buys merchandise on account from Splish Brothers Tannery. The selling price of the goods is 1,550, and the cost of the goods is 1,090. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Sunland Leather Goods Debit Credit Splish Brothers Tannery (To record credit sale) (To record cost of merchandise sold)
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