Question
Your company ABC Warehouse had the following Transactions for the month of February: Feb. 1 sold 10 DVDs to Teds 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 Teds 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 Teds Outlet
Feb. 12 paid the total amount due to Billy Bob
Feb. 15 Teds 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. 10
Give the required entry for ABC Warehouse for Feb. 12
Give the required entry for ABC Warehouse for Feb. 15
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