-X More Info q ur st. an. Jun. 3 Jun. 9 Jun. 12 Jun. 15 Jun. 16 un. Jun. 17 Purchased inventory on account with credit terms of 1/10,n/EOM, $2,500. Returned 30% of the inventory purchased on June 3. It was defective. Sold goods for cash, $930 (cost, $558). Purchased goods for $3,000 on account. Credit terms were 5/15, n/30. Paid a $270 freight bill on goods purchased. Sold inventory for $2,500 cash (cost, $2,250). Sold inventory for $2,100 on account with credit terms of 5/10,n/30 (cost, $1,260). Received returned goods from the customer of the June 17 sale, $900 (cost, $540). Paid supplier for goods purchased on June 15. Received cash in full settlement of the account from the customer who pused inventory on June 18. Paid the amount owed on account from the purchase of June 3. The company estimated that $350 of merchandise sold will be returned with a cost of $340. Jun. 18 lun. Jun. 22 Jun. 24 Jun. 28 Jun. 29 Jun. 30 Jun. Print Dane Suppose Beach Wind Air Conditioner Company engaged in the following transactions during June of the current year: Click the icon to view the transactions) Requirement Journalize the transactions. Assume Beach Wind uses a perpetual inventory system. The company estimates sales returns at the end of each month. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company uses the net amount to record sales.) Jun 30: The company estimated that $350 of merchandise sold will be returned with a cost of $340, Begin by preparing the entry for the estimated refunds. Do not prepare the entry to record the estimated return of merchandise with this entry. We will do that in the following step Date Accounts and Explanation Debit Credit nc Jun 30 ev is -O Now prepare the entry for the estimated return of merchandise Date Accounts and Explanation Debit Credit he Jun 30 ch Choose from any list or enter any number in the input fields and then continue to the next question. ha Save for Later -X More Info q ur st. an. Jun. 3 Jun. 9 Jun. 12 Jun. 15 Jun. 16 un. Jun. 17 Purchased inventory on account with credit terms of 1/10,n/EOM, $2,500. Returned 30% of the inventory purchased on June 3. It was defective. Sold goods for cash, $930 (cost, $558). Purchased goods for $3,000 on account. Credit terms were 5/15, n/30. Paid a $270 freight bill on goods purchased. Sold inventory for $2,500 cash (cost, $2,250). Sold inventory for $2,100 on account with credit terms of 5/10,n/30 (cost, $1,260). Received returned goods from the customer of the June 17 sale, $900 (cost, $540). Paid supplier for goods purchased on June 15. Received cash in full settlement of the account from the customer who pused inventory on June 18. Paid the amount owed on account from the purchase of June 3. The company estimated that $350 of merchandise sold will be returned with a cost of $340. Jun. 18 lun. Jun. 22 Jun. 24 Jun. 28 Jun. 29 Jun. 30 Jun. Print Dane Suppose Beach Wind Air Conditioner Company engaged in the following transactions during June of the current year: Click the icon to view the transactions) Requirement Journalize the transactions. Assume Beach Wind uses a perpetual inventory system. The company estimates sales returns at the end of each month. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company uses the net amount to record sales.) Jun 30: The company estimated that $350 of merchandise sold will be returned with a cost of $340, Begin by preparing the entry for the estimated refunds. Do not prepare the entry to record the estimated return of merchandise with this entry. We will do that in the following step Date Accounts and Explanation Debit Credit nc Jun 30 ev is -O Now prepare the entry for the estimated return of merchandise Date Accounts and Explanation Debit Credit he Jun 30 ch Choose from any list or enter any number in the input fields and then continue to the next question. ha Save for Later
