Information related to Bramble Co. is presented below. On April 5, purchased merchandise on account from Tamarisk Company for $41,700, terms 2/10, net/30, FOB shipping point On April 6, paid freight costs of $790 on merchandise purchased from Tamarisk. On April 7, purchased equipment on account for $27,100. On April 8, returned $5,700 of merchandise to Tamarisk Company. On April 15, paid the amount due to Tamarisk Company in full. 1. 2. 3. 4. 5. (a) Prepare the journal entries to record these transactions on the books of Bramble Co. under a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. 1. 2. 3. 5. Date : *P Account Titles and Explanation Debit Credit
Information related to Bramble Co. is presented below. On April 5, purchased merchandise on account from Tamarisk Company for $41,700, terms 2/10, net/30, FOB shipping point On April 6, paid freight costs of $790 on merchandise purchased from Tamarisk. On April 7, purchased equipment on account for $27,100. On April 8, returned $5,700 of merchandise to Tamarisk Company. On April 15, paid the amount due to Tamarisk Company in full. 1. 2. 3. 4. 5. (a) Prepare the journal entries to record these transactions on the books of Bramble Co. under a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. 1. 2. 3. 5. Date : *P Account Titles and Explanation Debit Credit
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
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 5RE: Using the information provided in RE8-4, prepare the journal entry to record the write-down of...
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