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Your company ABC Warehouse had the following Transactions for the month of February Feb. 1 sold 10 DVDs to Ted's Outlet for 39.99 each with
Your company ABC Warehouse had the following Transactions for the month of February Feb. 1 sold 10 DVDs to Ted's Outlet for 39.99 each with the terms 2/10 N 90 on account Feb. 2 purchased 200 Ipods at $89.99 each Billy Bob with the terms 2/10 N 30 on account Feb. 3 purchased 10 DVD takes at $1.99 each from Mikey Bob with the terms Nso on account Feb. 4 paid $18.34 freight costs for purchase of 10 DVDs purchase on Feb. 1. Feb. 10 received total amount due from Ted's Outlet NE Feb. 12 paid the total amount due to Billy Bob Feb. 15 Ted's Outlet returned all 10 DVDs sold on 1 Feb, for a full refund. given these DVDs were defective, Feb. 22 Returned 5 of the Ipods to Billy Bob for a cash refund, due to defects, Feb. 23 collected cash sales of $1500 (not including 6% sales tax) from customers. Feb. 26 ABC Warehouse paid sales tax collected of $1834 56 to state of Michigan Give the required entry for ABC Warehouse for Feb. 23 O Debit Cash 1500. Credit Sales 1500 O Debit Cash 1590, Credit Cash 1500. Sales tax payable 90 O Debit Cash 1590, Credit Sales 1500, Sales tax payable 90 O Debit Accounts receivable 1590. Credit Cash 1590 O Debit Purchases 1590. Credit Cash 1590
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