Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $1,230 and the cost of the goods sold is $710. Both companies use perpetual inventory systems.Journalize the transactions on the books of both companies. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)Account Titles and ExplanationDebitCreditCarla Vista  Enter an account titleEnter a debit amountEnter a credit amountEnter an account titleEnter a debit amountEnter a credit amount   Tamarisk  Enter an account title to record sale of merchandiseEnter a debit amountEnter a credit amountEnter an account title to record sale of merchandiseEnter a debit amountEnter a credit amount(To record sale of merchandise)  Enter an account title

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Asked Nov 8, 2019
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Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $1,230 and the cost of the goods sold is $710. Both companies use perpetual inventory systems.

Journalize the transactions on the books of both companies. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation
Debit
Credit
Carla Vista
   
Enter an account title
Enter a debit amount
Enter a credit amount
Enter an account title
Enter a debit amount
Enter a credit amount
     
Tamarisk
   
Enter an account title to record sale of merchandise
Enter a debit amount
Enter a credit amount
Enter an account title to record sale of merchandise
Enter a debit amount
Enter a credit amount
(To record sale of merchandise)
   
Enter an account title
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Expert Answer

Step 1

Journalize the transaction in t...

Account titles and explanation
Inventory
Accounts payable
|(To record the cost of goods purchased)
Date
Debit
Credit
S1,230
S 1,230
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Account titles and explanation Inventory Accounts payable |(To record the cost of goods purchased) Date Debit Credit S1,230 S 1,230

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