Question
the following transactions (same as previous page) happened during the month of August 20221 Company purchased merchandise from Cato Company with the following terms. $1,800
the following transactions (same as previous page) happened during the month of August 20221
Company purchased merchandise from Cato Company with the following terms. $1,800
Avelse price, 2/15, r/s9, roB thipping point). The cost of the merchandise to Cato was $920.
Aura
LAur 16
The septoprate company paid uns shipping $125 for shipping charges on the Aux 2 purchase.
Elmo returned unacceptable merchandite to Cato. The goods had an involce price of $300 (cost of $165 to Catel Cate returned the goods to inventery.
Elme sent a cheque to Cato to pay for the Aug 2 purchase.
Prepare the journal entries for Cato Company (assume perpetual inventory system):
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Accounting For Managers Interpreting Accounting Information For Decision Making
Authors: Paul M. Collier, Sandy M. Kizan, Eckhard Schumann
1st Canadian Edition
1118037960, 9781118037966
