Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following selected transactions were completed during April between Swan Company and Bird Company: Apr . 2 . Swan Company sold merchandise on account to

The following selected transactions were completed during April between Swan Company and Bird Company:
Apr.2. Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 210,n30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $19,200.
8. Swan Company sold merchandise on account to Bird Company, $49,500, terms FOB destination, 115,n30. The cost of the merchandise sold was $29,700.
8. Swan Company paid freight of $710 for delivery of merchandise sold to Bird Company on April 8.
12. Bird Company paid Swan Company for purchase of April 2.
18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise.
23. Bird Company paid Swan Company for purchase of April 8.
24. Swan Company sold merchandise on account to Bird Company, $67,350, terms FOB shipping point, n45. The cost of the merchandise sold was $40,400.
26. Bird Company paid freight of $875 on April 24 purchase from Swan Company.
30. Swan Company granted a customer allowance (credit memo) to Bird Company for $11,300 for merchandise that was returned from the August 24 purchase. The cost of the merchandise returned was $6,500.
Required:
Journalize the April transactions for Bird Company (the buyer).
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Principles And Applications

Authors: Horace R. Brock, Linda Herrington

6th Edition

0028034287, 978-0028034287

More Books

Students also viewed these Accounting questions