Brief Exercise 8-02 Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On July 1, Sheridan Co. sold merchandise on account to Stacey Inc. for $21,540, terms 4/10, n/30. (b) On July 8, Stacey Inc. returned merchandise worth $2,540 to Sheridan Co. (c) On July 11, Stacey Inc. paid for the merchandise. Date Account Titles and Explanation Debit Credit Choose a transaction date July 1July 8July 11 Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date July 1July 8July 11 Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date July 1July 8July 11 Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 5PA: Gomez Company sells electrical supplies on a wholesale basis. The balances of the accounts as of...

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Brief Exercise 8-02

Record the following transactions on the books of Sheridan Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(a)		On July 1, Sheridan Co. sold merchandise on account to Stacey Inc. for $21,540, terms 4/10, n/30.
(b)		On July 8, Stacey Inc. returned merchandise worth $2,540 to Sheridan Co.
(c)		On July 11, Stacey Inc. paid for the merchandise.

Date

Account Titles and Explanation

Debit

Credit

Choose a transaction date

July 1July 8July 11

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

Choose a transaction date

July 1July 8July 11

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

Choose a transaction date

July 1July 8July 11

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

Enter an account title

Enter a debit amount

Enter a credit amount

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