5 4 Date 02/02/2024 Transaction Purchase 4 Advanced Agility sets from Odin Enterprises, terms net 30, for a wholesale price of $200.00 each to build 2 agility training courses indoors and 2 agility training courses outdoors in the leased facilities for onsite agility training services. Cy provides the labor to build out the agility training courses. Since the agility training sets purchased will eventually be sold to customers, record the items as Inventory. Enter as a Purchase Order. Then enter Bill and add Purchase Order to the Bill. a. What are the Accounts and Amounts Debited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. b. What are the Accounts and Amounts Credited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. Debit Credit Account Accounts Payable (A/P) Accounts Receivable (A/R) Inventory Asset Amount

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter17: Advanced Issues In Revenue Recognition
Section: Chapter Questions
Problem 15RE: GameDay sells recreational vehicles along with secure parking storage to customers. Game Day sells...
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
5
4
Date
02/02/2024
Transaction
Purchase 4 Advanced Agility sets from Odin Enterprises,
terms net 30, for a wholesale price of $200.00 each to
build 2 agility training courses indoors and 2 agility
training courses outdoors in the leased facilities for
onsite agility training services. Cy provides the labor to
build out the agility training courses.
Since the agility training sets purchased will eventually
be sold to customers, record the items as Inventory.
Enter as a Purchase Order. Then enter Bill and add Purchase
Order to the Bill.
a. What are the Accounts and Amounts Debited?
Note: Answer this question in the table shown below. Round your answer to 2 decimal places.
b. What are the Accounts and Amounts Credited?
Note: Answer this question in the table shown below. Round your answer to 2 decimal places.
Debit
Credit
Account
Accounts Payable (A/P)
Accounts Receivable (A/R)
Inventory Asset
Amount
Transcribed Image Text:5 4 Date 02/02/2024 Transaction Purchase 4 Advanced Agility sets from Odin Enterprises, terms net 30, for a wholesale price of $200.00 each to build 2 agility training courses indoors and 2 agility training courses outdoors in the leased facilities for onsite agility training services. Cy provides the labor to build out the agility training courses. Since the agility training sets purchased will eventually be sold to customers, record the items as Inventory. Enter as a Purchase Order. Then enter Bill and add Purchase Order to the Bill. a. What are the Accounts and Amounts Debited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. b. What are the Accounts and Amounts Credited? Note: Answer this question in the table shown below. Round your answer to 2 decimal places. Debit Credit Account Accounts Payable (A/P) Accounts Receivable (A/R) Inventory Asset Amount
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