Question
The Puzzle Maze Company sells games and puzzles using a perpetual inventory method. The following transactions took place in April 2014. 1 Paid $12,000 in
The Puzzle Maze Company sells games and puzzles using a perpetual inventory method. The following transactions took place in April 2014.
1 | Paid $12,000 in advance for rent |
3 | Purchased supplies for the office paying cash in the amount of $1,560 |
4 | Received cash in the amount of $3,450 and credit sales of $1,240 for puzzles sold. Inventory cost $2,345 |
8 | Purchased inventory on account in the amount of $2,345 |
14 | Paid wages of $2,367. |
16 | Received cash sales in the amount of $1,246; inventory sold cost $623. |
24 | Paid for the inventory purchased on April 8. |
26 | Paid the utility bill for $256 and for internet access in the amount of $175. |
29 | Purchased advertising on account in the amount of $650. The advertising will be for three months starting May 1. |
30 | Received cash in the amount of $2,450 and credit sales of $3,240 for puzzles sold. Inventory cost $2,845 |
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