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with working notes Funk is a hair stylist who opened a business selling hair products. He imports products from around the world and sells to
with working notes
Funk is a hair stylist who opened a business selling hair products. He imports products from around the world and sells to salor lada. Purchased $1,600 of hair spray from Orbit Pro; terms 3/10,n/30, FOB shipping point. The appropriate party paid the shipp cost of $210. Sold shampoo costing $490 to Barber \& co. for a price of $700 with terms of 2/10,n/30, FOB shipping point. The appropria party paid the shipping cost of $85. Returned $600 of inventory to Orbit Pro due to an error in the October 1 order. Paid Orbit Pro for the purchase on October 1. Barber \& Co. returned $120 of inventory from the sale on October 5 . The inventory had a cost of $84. Received the payment from Barber \& Co. on the October 5 sale. Purchased $2,200 of hair conditioner from Keratin Hair; terms 2/10,n/30, FOB shipping point. The appropriate party paic shipping cost of $350. Sold hair gel to Styling Room for an invoice price of $1,100, terms 2/10,n/30, FoB destination. The hair gel had a cos 770. The appropriate party paid the shipping cost of $175. aid for the purchase on October 23. eceived the payment from Styling Room on the October 25 sale. le journal entries for the month of October. (If no entry is required for a transaction/event, select "No journal entry in the first account field. Journal entry descriptions are provided already in the journal entry worksheet.) Funk is a hair stylist who opened a business selling hair products. He imports products from around the world and sells to salor lada. Purchased $1,600 of hair spray from Orbit Pro; terms 3/10,n/30, FOB shipping point. The appropriate party paid the shipp cost of $210. Sold shampoo costing $490 to Barber \& co. for a price of $700 with terms of 2/10,n/30, FOB shipping point. The appropria party paid the shipping cost of $85. Returned $600 of inventory to Orbit Pro due to an error in the October 1 order. Paid Orbit Pro for the purchase on October 1. Barber \& Co. returned $120 of inventory from the sale on October 5 . The inventory had a cost of $84. Received the payment from Barber \& Co. on the October 5 sale. Purchased $2,200 of hair conditioner from Keratin Hair; terms 2/10,n/30, FOB shipping point. The appropriate party paic shipping cost of $350. Sold hair gel to Styling Room for an invoice price of $1,100, terms 2/10,n/30, FoB destination. The hair gel had a cos 770. The appropriate party paid the shipping cost of $175. aid for the purchase on October 23. eceived the payment from Styling Room on the October 25 sale. le journal entries for the month of October. (If no entry is required for a transaction/event, select "No journal entry in the first account field. Journal entry descriptions are provided already in the journal entry worksheet.)Step by Step Solution
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