I am working on a journal entry and this is the question. I am not sure on what accounts I should use. Sunny Hotel Inc., purchased$8,300 worth of inventory from the A to Z Pool Supply on account, terms of 3/10, n/60. Some of the goods were damaged during shipment, so Sunny Hotel, Inc., returns $1,600of the merchandise to the A to Z Pool Supply. Read the requirements LOADING... Journalize the following transactions for Sunny HotelSunny Hotel,Inc. assuming the "net" method is utilized. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Purchase of the goods Journal Entry Accounts Debit Credit a. 6700 6700
I am working on a journal entry and this is the question. I am not sure on what accounts I should use. Sunny Hotel Inc., purchased$8,300 worth of inventory from the A to Z Pool Supply on account, terms of 3/10, n/60. Some of the goods were damaged during shipment, so Sunny Hotel, Inc., returns $1,600of the merchandise to the A to Z Pool Supply. Read the requirements LOADING... Journalize the following transactions for Sunny HotelSunny Hotel,Inc. assuming the "net" method is utilized. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Purchase of the goods Journal Entry Accounts Debit Credit a. 6700 6700
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 5CP: The following is an excerpt from a conversation between Paula Marlo, the warehouse manager for...
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I am working on a
Sunny Hotel Inc., purchased$8,300 worth of inventory from the A to Z Pool Supply on account, terms of 3/10, n/60. Some of the goods were damaged during shipment, so Sunny Hotel, Inc., returns $1,600of the merchandise to the A to Z Pool Supply.
Read the requirements LOADING...
Journalize the following transactions for Sunny HotelSunny Hotel,
Inc. assuming the "net" method is utilized. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.)
Inc. assuming the "net" method is utilized. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.)
a. Purchase of the goods
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6700
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