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Solve all requirements. Homework: HW Ch.5 Score: 0 of 30 pts 3 of 4 (0 complete) HV P5-31A (similar to) Journalize the following transactions that
Solve all requirements.
Homework: HW Ch.5 Score: 0 of 30 pts 3 of 4 (0 complete) HV P5-31A (similar to) Journalize the following transactions that occurred in September 2015 for Water Works assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. (Record debits first, then credits 3 Click the icon to view the transactions.) Sep 3: Purchased merchandise inventory on account from Sheldon Wholesalers, $4,500. Terms 3/15, n/EOM, FOB shipping point. Date Accounts Debit Credit Sep 3 Data Table - X Sep 4 3 Purchased merchandise inventory on account from Sheldon Wholesalers, $4,500. Terms 3/15, n/EOM, FOB shipping point. Paid freight bill of 545 on September 3 purchase. 4 Purchase merchandise inventory for cash of $2,100. 6 Returned $1,000 of inventory from September 3 purchase. 8 Sold merchandise inventory to Houston Company, $5,900, on account. Terms 1/15, n/35. Cost of goods, $2,773. 9 Purchased merchandise inventory on account from Tarin Wholesalers, $10,000. Terms 3/10, n/30, FOB destination. 10 Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount. 12 Received payment from Houston Company, less discount. 13 After negotiations, received a $100 allowance from Tarin Wholesalers. 15 Sold merchandise inventory to Jeeves Company, $2,600, on account. Terms 1/10, n/EOM. Cost of goods, $1,118. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned $300 of the merchandise sold on September 15. Cost of goods, S129. 25 Sold merchandise inventory to Sundun for $1,600 on account that cost $576. Terms of 3/10, n/30 were offered, FOB shipping point. As a courtesy to Sundun, $50 of freight was added to the invoice for which cash was paid by Water Works. 26 After negotiations, granted a $400 allowance to Sundun for merchandise purchased on September 25. 29 Received payment from Sundun, less allowance and discount 30 Received payment from Jeeves Company, less return. Print DoneStep by Step Solution
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