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ts eBook Print eferences The Williams Company sells a product called Mix-Right for $15 each and uses a perpetual inventory system to account for its
ts eBook Print eferences The Williams Company sells a product called Mix-Right for $15 each and uses a perpetual inventory system to account for its merchandise. The beginning balance of Mix-Rights and transactions during October 2023 were as follows: Oct 1 Balance: 99 units costing $5 each. 3 Purchased 114 units from Arnold Brothers costing $7.50 each 4 Returned 34 of the units purchased on October 3. 9 Sold 89 units to Kitchen Club, invoice #210. 15 Purchased 214 units from Arnold Brothers costing $8.45 each. 18 Sold 178 units to Thorhild Co-op, invoice #211.1 19 Paid for the October 3 purchase; cheque #101. 23 Paid for the October 15 purchase, cheque #102. 24 Sold 64 units to Boyle Grocery, invoice #212. 31 Purchased 89 units from Arnold Brothers costing $8.00 each. Required: Journalize the October transactions in the sales, purchases, and cash disbursements journals. Assume all sales and purchases are on credit; terms 2/10, n/30. Under the assumption that the company keeps its records on a weighted average basis, enter the beginning balances and post each transaction on an inventory subledger record. Posting to other subledgers is not required. (Enter the transactions in the order provided in the question. Round final answers to 2 decimal places. Negative answers should be indicated by a minus sign.) I WILLIAMS COMPANY Sales Journal Date (2023) Account Debited Invoice Number A/R Dr. Sales Cr. COGS Dr. Merchandise. Inventory Cr. Oct. 9 Kitchen Club 210 1,335.00 Oct 18 Thorhild Co-op 211 2,670.00 Oct 24 Boyle Grocery 212 960.00
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