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Some of the transactions of Kingbird Company during August are listed below. Kingbird uses the periodic inventory method August 10 Purchased merchandise on account, $10,700,
Some of the transactions of Kingbird Company during August are listed below. Kingbird uses the periodic inventory method August 10 Purchased merchandise on account, $10,700, terms 2/10, n/30. 13 Returned part of the purchase of August 10, $1,300, and received credit on account. 15 Purchased merchandise on account, $14,800, terms 1/10, n/60. 25 Purchased merchandise on account, $18,900, terms 2/10, n/30. 28 Paid invoice of August 15 in full. Your answer is partially correct. Try again. Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken: Prepare general journal entries to record the transactions. (If 0 entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit rchas 070 ccounts Payabl 1300 13 TAccounts Payabl Purchases Aug.15 Purchases ccounts Payabl ccounts Payabl ccounts Payabl L4800 $4800 Attempts: 3 of 3 used
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