Question
This is one problem with multiple entries. thank you 1Hardenatz's lumber has a beginning inventory of $220,000 the following transactions April 15th purchase lumber on
This is one problem with multiple entries. thank you
1Hardenatz's lumber has a beginning inventory of $220,000 the following transactions April 15th purchase lumber on account for $4,000. April 19th sold lumber on account for $20,000. The cost of this merchandise was $10,000. Prepare the journal entries to record the transactions.
2If Hardenatz's lumber purchases 1,000 of lumber at 10/10 n/30 show the journal entry to record the purchase on account.
3If the company sells 400 worth of goods for 1,000 at 5/10 n/30 and there are no returns, record the entry if the company receives payment after the discount period.
4If Hardenatz's sells 400 worth of goods for 1,000 at 5/10 n/30 record the sale.
5Dec 31 A physical count determines inventory to be a 114,000 versus a 116,500 in the ledger is any entry required if so show it.
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