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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 N30 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 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 taxe 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. 2 O Debit Purchase 17998.00. Credit Accounts payable/Billy Bob 17998.00 o Debit Accounts payable/Billy Bob 17998.00. Credit Purchase 17998.00 o Debit Cash 17998.00, Credit Sales 17998.00 o Debit Accounts receivable 17998.00. Credit Sales 17998.00 O Debit Purchase 17988.00. Credit Sales 17988.00
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