5-Ch 5 iFeb. 1 Purchased $16,900 of merchandise inventory; terms 3/10, n/30.5 Purchased for cash $8,100 of merchandise inventory.6 Purchased $21,900 of merchandise inventory; terms 1/15, n/45.Journalize each of the following transactions assuming a perpetual inventory system. (If no entry is required for a transaction/event,select "No journal entry required" in the first account field.)11 Paid for the merchandise purchased on February 1.24 Paid for the office supplies purchased on February 9.Mar.23 Paid for the February 6 purchase.9 Purchased $1,850 of office supplies; terms n/15.10 Contacted a major supplier to place an order for $190,000 of merchandise in exchange for a 20% trade discount to be shippedon April 1 FOB destination.View transaction listJournal entry worksheet<123DateFeb 011Note: Enter debts before credits45Record purchase of merchandise for $16,000; terms 1/10, r/30.6General Journal7 8SavedDebitInmiddlewareCredit

Journal entries are entered in the book of account by adhering to the double-entry bookkeeping…

Answered: Journalize each of the following…

Journalize each of the following transactions assuming a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 9RE: RE7-8 Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased 100,000 of...

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Question

5-Ch 5 i
Feb. 1 Purchased $16,900 of merchandise inventory; terms 3/10, n/30.
5 Purchased for cash $8,100 of merchandise inventory.
6 Purchased $21,900 of merchandise inventory; terms 1/15, n/45.
Journalize each of the following transactions assuming a perpetual inventory system. (If no entry is required for a transaction/event,
select "No journal entry required" in the first account field.)
11 Paid for the merchandise purchased on February 1.
24 Paid for the office supplies purchased on February 9.
Mar.23 Paid for the February 6 purchase.
9 Purchased $1,850 of office supplies; terms n/15.
10 Contacted a major supplier to place an order for $190,000 of merchandise in exchange for a 20% trade discount to be shipped
on April 1 FOB destination.
View transaction list
Journal entry worksheet
<
1
2
3
Date
Feb 011
Note: Enter debts before credits
4
5
Record purchase of merchandise for $16,000; terms 1/10, r/30.
6
General Journal
7 8
Saved
Debit
Inmiddleware
Credit

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