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Solve using the same format as the provided journal below . An example of a similar problem will also be posted. Example: Part 2 Accounting
Solve using the same format as the provided journal below. An example of a similar problem will also be posted.
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Part 2 Accounting for Merchandise Inventory Sales Journalize the following transactions of Martinez Company for April in the journal page provided: 2022 Apr 4 Sold merchandise to Braun Co. $20,000, terms FOB shipping point, 2/10, net 30 . The cost of goods sold was $15,000. Apr 7 Sold merchandise to Hader Co. $40,000, terms FOB shipping point, 1/10, net 30 . The cost of goods sold was $30,000 Apr 8 Hader returned $10,000 of merchandise back to Martinez Co. The cost of merchandise coming back to Martinez was $7,500. Apr 14 Received the amount due from Braun Co. Apr 17 Received the amount due from Hader C0 \begin{tabular}{|c||c||c|c|} \hline Part 2- Journal & Page 1 & Credit \\ \hline Date & Accounts and Explanations & & \\ \hline & & & \\ \hline \end{tabular} Required: Prepare the journal entries for the Brady Corporation in the general journal provided. Oct 1 Sold merchandise to Hannah Company, \$40,000, terms FOB Shipping Point, 1/10,n/30. The cost of merchandise sold was $27,000. 3 Sold merchandise for $12,000 plus 5% sales tax to retail cash customers. The cost of the merchandise sold was $8,000. The goods were picked up by the customers. 6 Sold merchandise to Welker Industries, $35,000, terms FOB Destination Point, 2/10, n/eom. The cost of the merchandise sold was $23,000. 8 Paid the freight invoice of $450 related to the Welker Industries sale. 11 Received payment from Hannah Company for the October 1 invoice. 16 Received payment from Welker Industries for the October 6 sale. 19 Paid the sales tax to government for the amount collected from the retail cash customers this month. 21 Sold merchandise to Gronkowski Corp., $50,000, terms FOB Shipping Point, 1/10,n/45. The cost of merchandise sold was $31,000. 29 Merchandise with an invoiced amount of $5,000 was returned by Gronkowski Corp. The cost of the merchandise returned was $3,100Step by Step Solution
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