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Required information [ The following information applies to the questions displayed below. ] Nicole's Getaway Spa ( NGS ) has been so successful that Nicole
Required information
The following information applies to the questions displayed below.
Nicole's Getaway Spa NGS has been so successful that Nicole has decided to expand her spa by selling
merchandise. She sells things such as nail polish, athome spa kits, cosmetics and aromatherapy items. Nicole uses
a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a
business. The following transactions were selected from among those completed by NGS in August.
August Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of
the bundle sells for $ and the merchandise basket normally sells for $ Together, the bundle was
sold to Val Amy for cash at a selling price of $total Val booked a spa treatment for August
and she took the basket of goods with her. The goods had cost NGS $
August Sold identical items of merchandise to Cosmetics R Us on account at a selling price of $total;
terms The goods cost NGS $
August Cosmetics R Us returned one of the five items purchased on August The item could still be sold by
NGS in the future and credit was given to the customer.
August Val Amy used one of the three spa treatments she had purchased as part of the bundle sold to her on
August
August Sold two athome spa kits to Meghan Witzel for $ cash. The goods cost NGS $
August cosmetics R Us paid its remaining account balance in full.
Journal entry worksheet
Record the receipt of payment in full from Val Amy.
Note: Enter debits before credits.
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