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Sales - Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Green Lawn Supplies Co . , which sells irrigation supplies
SalesRelated Transactions Using Perpetual Inventory System The following selected transactions were completed by Green Lawn Supplies Co which sells irrigation supplies primarily to wholesalers a July Sold merchandise on account to Landscapes Co $ terms FOB shipping point, The cost of merchandise sold was $ Sold merchandise for $ plus sales tax to retail cash customers. The cost of merchandise sold was $ Sold merchandise on account to Peacock Company, $ terms FOB destination, The cost of merchandise sold was $ Sold merchandise for $ plus sales tax to retail customers who used VISA cards. The cost of merchandise sold was $ Sold merchandise to customers who used MasterCard cards, $ The cost of merchandise sold was $ Sold merchandise on account to Loeb Co $ terms FOB shipping point, The cost of merchandise sold was $ Received check for amount due from Peacock Company for sale on July Issued credit memo for $ to Loeb Co for damaged merchandise from sale on July Loeb Co kept the merchandise. Sold merchandise on account to Jennings Company, $ terms FOB shipping point, Paid $ for freight and added it to the invoice. The cost of merchandise sold was $ Received check for amount due from Loeb Co for sale on July less credit memo of July Received check for amount due from Jennings Company for sale of July Paid Black Lab Delivery Service $ for delivery of merchandise in July to customers under shipping terms of FOB destination. Paid Black Lab Delivery Service $ for delivery of merchandise in July to customers under shipping terms of FOB destination. Received check for amount due from Landscapes Co for sale of July Aug. Paid Hays Federal Bank $ for service fees for handling MasterCard and VISA sales during July. Paid $ to state sales tax division for taxes owed on sales. Required: Journalize the entries to record the transactions of Green Lawn Supplies Co If an amount box does not require an entry, leave it blank.
SalesRelated Transactions Using Perpetual Inventory System
The following selected transactions were completed by Green Lawn Supplies Co which sells irrigation supplies primarily to wholesalers a
July Sold merchandise on account to Landscapes Co $ terms FOB shipping point, The cost of merchandise
sold was $
Sold merchandise for $ plus sales tax to retail cash customers. The cost of merchandise sold was $
Sold merchandise on account to Peacock Company, $ terms FOB destination, The cost of
merchandise sold was $
Sold merchandise for $ plus sales tax to retail customers who used VISA cards. The cost of merchandise
sold was $
Sold merchandise to customers who used MasterCard cards, $ The cost of merchandise sold was $
Sold merchandise on account to Loeb Co $ terms FOB shipping point, The cost of merchandise
sold was $
Received check for amount due from Peacock Company for sale on July
Issued credit memo for $ to Loeb Co for damaged merchandise from sale on July Loeb Co kept the
merchandise.
Sold merchandise on account to Jennings Company, $ terms FOB shipping point, Paid $ for
freight and added it to the invoice. The cost of merchandise sold was $
Received check for amount due from Loeb Co for sale on July less credit memo of July
Received check for amount due from Jennings Company for sale of July
Paid Black Lab Delivery Service $ for delivery of merchandise in July to customers under shipping terms of FOB
destination. Paid Black Lab Delivery Service $ for delivery of merchandise in July to customers under shipping terms of FOB
destination.
Received check for amount due from Landscapes Co for sale of July
Aug. Paid Hays Federal Bank $ for service fees for handling MasterCard and VISA sales during July.
Paid $ to state sales tax division for taxes owed on sales.
Required:
Journalize the entries to record the transactions of Green Lawn Supplies Co If an amount box does not require an entry, leave it blank.
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