The following selected transactions were completed by Betz Company during July of the current year: July 1
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Question:
The following selected transactions were completed by Betz Company during July of the current year:
July | 1 | Purchased merchandise from Sabol Imports Co., $13,377, terms FOB destination, n/30. |
3 | Purchased merchandise from Saxon Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $230 was added to the invoice. | |
5 | Purchased merchandise from Schnee Co., $14,350, terms FOB destination, 2/10, n/30. | |
6 | Issued debit memo to Schnee Co. for merchandise with an invoice amount of $5,000 returned from purchase on July 5. | |
13 | Paid Saxon Co. for invoice of July 3. | |
14 | Paid Schnee Co. for invoice of July 5, less debit memo of July 6. | |
19 | Purchased merchandise from Southmont Co., $25,850, terms FOB shipping point, n/eom. | |
19 | Paid freight of $430 on July 19 purchase from Southmont Co. | |
20 | Purchased merchandise from Stevens Co., $23,000, terms FOB destination, 1/10, n/30. | |
30 | Paid Stevens Co. for invoice of July 20. | |
31 | Paid Sabol Imports Co. for invoice of July 1. | |
31 | Paid Southmont Co. for invoice of July 19. |
Required:
Journalize the entries to record the transactions of Betz Company for July. |
Posted Date: