Question #2
Question #1
Please answer both questions or none at all and please explain how you got them so I can better understand how to do them in accounting because I am struggling. Thank you!! I will give thumbs up if they are right!
- x * More Info Purchased $2,500 of merchandise inventory on account under terms Feb. 3 3/10 n/EOM and FOB shipping point from Silo's Goods Feb. 7 Returned $700 of defective merchandise purchased on February 3. Feb. 9 Paid freight bill of $450 on February 3 purchase. Sold merchandise inventory on account for $4,100 to Top Mindfulness. Feb. 10 Payment terms were 1/15, n/30 These goods cost the company $2,050 Paid amount owed on credit purchase of February 3. less the return and Feb. 12 the discount Feb. 28 Received cash from Top Mindfulness in full settlement of their debt. Print Done Clear All O LG Soul Space Gin Shop uses a perpetual inventory system. Journalize the following transactions for Soul Space Gift Shop Explanations are not required. (Record debits first, the ar Click the icon to view the transaction Feb. 3. Purchased $2.500 of merchandise invertory on account under terms 310, VEOM and FOB shipping point from silo's Goods Date Accounts Det Credit Feb LG QWE Caps Lock A S D F G H urnalize all necessary transactions. Explanations are not required Hebits first, then credits. Exclude explanations from journal entries. Round all numbers to the nearest whole dollar.) arms were 2/15. n/45. FOB shipping point. - X More Info Purchased inventory of $5,400 on account from Southboro Diamonds, a jewelry Jun. 20 importer. Terms were 2/15, n/45, FOB shipping point Jun. 20 Paid freight charges, 5100, Jul. 4 Returned $300 of inventory to Southboro. Jul. 14 Paid Southboro Diamonds, less return Purchased inventory of $3,800 on account from Sandra Diamonds, a jewelry Jul. 16 importer. Terms were 3/10, n/EOM, FOB destination Jul. 18 Received a 5400 allowance from Sandra Diamonds for damaged but usable goods Jul. 24 Paid Sandra Diamonds, less allowance and discount Print Done Clear All a Joumace acessary transactions in the order they are presented in the transaction ist (Record debits first, then credits Exclude explanations from journal entries Round Jun 20 Purchased Inventory of $5,400 on account from Southboro Diamonds a jewelry importer Terms were 2/15, 1/45. FOB shipping point Date Accounts Debat Crede Jan 20 G OLG QW E R 0 S DF G . K Z C V B N M Please answer the question in full if you know how to do it! Please allign the answers how the questions are so it's not confusing for me to figure out where it goes! Will give a thumbs up if the answer is correct! If you have trouble reading any of the images please let me know so I can post another picture
