Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

YouTube Maps M Gmal dowokertakeAssignmentSessionlocator Sinprogreta Homework Chapter 5 eBook Sales and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected

image text in transcribed
image text in transcribed
image text in transcribed
YouTube Maps M Gmal dowokertakeAssignmentSessionlocator Sinprogreta Homework Chapter 5 eBook Sales and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company. Both companies use the nat method under a perpetual ventry system. Apr. 2. Swan Company sold merchandise on account to Bird Company, 164,200, terms FOB shipping point, 2/10, n/30. Swan paid freight of $1,585, which was added to the invoice. The cost of the goods sold was $34,720. 8. Swan Company sold merchandise on account to Bird Company, $46,900, terms FOB destination, 1/15, n/eom. The cost of the goods sold was $27,190. 8. Swan Company paid freight of $1,130 for delivery of merchandise sold to Bird Company on April 12. Bird Company paid Swan Company for purchase of April 2 23, Bird Company paid Swan Company for purchase of April. 24. Swan Company sold merchandise on account to Bind Company. $67.150, terms FOB shipping point, n/eom. The cost of the goods sold was $41,870. 25. Swan Company paid Bird Company a cash refund of $2,300 for damaged merchandise in the April 8 sale. Bird Company kapt the merchandise 26. Bird Company paid freight of $810 on April 24 purchase from Swan Company 30, Bird Company paid Swan Company on account for purchase of April 24. Required: 1. Journalize the April transactions for Swan Company (the seller): If an amount box does not require an entry leave it blank Debit Account Date Apr 2 Accounts Receivable-Bird Company a Credit C t SNA FILE C YouTube Date Date v2.cengagenow.com/ilm/takeAssignment/takeAssignementMain.doTimoker=&takeAssignmentSessionLocator Bonprogress fab Apr. 2 Inventory Apr 8 Maps M Gal Accounts Payable-Siwan Company Inventory Accounts Payablewan Company Cash Account Date Account Apr. 12 Accounts Payable-Siwan Company Cash Account Check My Work Date Apr. 23 Accounts Payable Siwan Company Assignment Score: 61.115 Account Dehif B Debit Debit Debit Credit Credit Credit Credit All work saved. Spin 1 Ultra Sim Activity Alabama AM YouTube Date Apr. 24 Inventory Date Apr: 25 Maps M Gmal Date Apr 26 Date Apr 30 Content v2.cengagenow.com/ilm/takuAssignment/takeAssignmentMain.dolimokers takeAssignmentSessionlocator doinprogress-fabe Cash Inventory Accounts Payablewan Company Inventory Cash Account Account Account 10 Account Accounts Payable-Swan Company Cash Debit CengageWv2|Online Debit Debit Debit Crinlit Credit Credit + Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions