The Allen Company is a wholesale distributor of automotive replacement parts. A physical count of Allen Company's warehouse was made on December 21, Year 5.
Using the information provided in the exhibits, complete Allen Company's inventory cutoff by making any adjustments needed on Allen Company's inventory, accounts payable, and sales. Enter the appropriate amounts in the associated cells. Indicate negative numbers by using a leading minus (-) sign. Round all amounts to the nearest whole number. If no entry is necessary, enter a zero (0) or leave the cell blank.
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Make all checks payable to Greg Company If you have any questions concerning this invoice, contact: Stan Rilev at 3.57-203-3.3.3 or write rilev stan n mail cnm \begin{tabular}{|l|r|r|r|} \hline \multicolumn{1}{|c|}{ Transactions } & Physical inventory & Accounts payable & \multicolumn{1}{|c|}{ Sales } \\ \hline Initial Amount & $1,250,000 & $1,000,000 & $9,000,000 \\ \hline 1-3.AutoDiscountCorporation & 123 & 123 & 123 \\ \hline 4-6. Greg Company & 123 & 123 & \\ \hline 7-9. C \& Z Freight & 123 & 123 & \\ \hline \end{tabular} Auto Discount Corp. Consignment Note This document is prepared as a courtesy to our suppliers. We have had a spectacular year! All our marketing efforts have paid off, and we were able to sell $9,000,000 worth of auto parts this year. With the increased sales, we may have to purchase more inventory as we only had $1,250,000 worth of auto parts on hand based on the unadjusted physical count on December 21, Year 5. Give me the okay and I will get these orders together. Thanks, Eugine C \& Z Freight Co. Freight Invoice C \& Z Freight Company FREIGHT INVOICE CONSIGNEE Allen Company Gainesville, FL 32600 TIME PERIOD December 1 - December 31, Year 5 To: Taylor Johnson, CFO, Allen Company From: Eugine Corrina, Purchasing Officer January 3, Year 6 Taylor, We just received this freight bill from C\&Z Freight. All of these freight bills relate to merchandise purchases in December, Year 5. None of these freight costs were included in inventory or accounts payable. Eugine Make all checks payable to Greg Company If you have any questions concerning this invoice, contact: Stan Rilev at 3.57-203-3.3.3 or write rilev stan n mail cnm \begin{tabular}{|l|r|r|r|} \hline \multicolumn{1}{|c|}{ Transactions } & Physical inventory & Accounts payable & \multicolumn{1}{|c|}{ Sales } \\ \hline Initial Amount & $1,250,000 & $1,000,000 & $9,000,000 \\ \hline 1-3.AutoDiscountCorporation & 123 & 123 & 123 \\ \hline 4-6. Greg Company & 123 & 123 & \\ \hline 7-9. C \& Z Freight & 123 & 123 & \\ \hline \end{tabular} Auto Discount Corp. Consignment Note This document is prepared as a courtesy to our suppliers. We have had a spectacular year! All our marketing efforts have paid off, and we were able to sell $9,000,000 worth of auto parts this year. With the increased sales, we may have to purchase more inventory as we only had $1,250,000 worth of auto parts on hand based on the unadjusted physical count on December 21, Year 5. Give me the okay and I will get these orders together. Thanks, Eugine C \& Z Freight Co. Freight Invoice C \& Z Freight Company FREIGHT INVOICE CONSIGNEE Allen Company Gainesville, FL 32600 TIME PERIOD December 1 - December 31, Year 5 To: Taylor Johnson, CFO, Allen Company From: Eugine Corrina, Purchasing Officer January 3, Year 6 Taylor, We just received this freight bill from C\&Z Freight. All of these freight bills relate to merchandise purchases in December, Year 5. None of these freight costs were included in inventory or accounts payable. Eugine
