What is the answer of this 330,50012,45023,870276,90034,660120,400discountsPurchase returns and allowancesSalesSales discountsGross purchasesPROBLEM 2: On April 5, a customer returns 20 bicycles with a sales price of $250per bike to Barrio Bikes. Each bike cost Barrio Bikes $100. The customer had yet topay on their account. The bikes are in sellable condition. Prepare the journal entry-or entries to recagnize this return if the company usesA. the perpetual inventory systemB. the periodic inventory systemPROBLEM3: The following is selected information from Orange Industries. Computenet purchases, and cost of goods sold for the month of June.SalesGross purchasesSales discountsPurchase returns and allowances$870,000435,08082,65050,932321,908 BA TAAMODULE SIXMERCHANDISINGWEEK SIXSOUTHERN COTABATO ACADEMY, INC.POBLACION KIAMBA, SARANGANI PROVINCE, 9514GOVERNMENT RECOGNITION Nos. SP 405647-196 s.2020"COMMITTED TO EXCELLENCE, SERVING THE COMMUNITY SINCE 1965"PROBLEM 4: On April 20, Barrio Bikes purchased 30 bicycles at a cost of $100 perCredit terms were 4/10, n/30, with an invoice date of April 20. On April 26, Barrio Bikes pays in-full for the purchase. Prepare the journal entry or entries to recognize the purchase andsubsequent payment if Barrio Bikes uses:bike.A. the perpetual inventory systemB. the periodic inventory systemPROBLEM 5: Costume Warehouse sells costumes and accessories. Review the followingor entries if Costume Warehouse uses:

PROBLEM 2: Given: No.of bikes returned by the customer = 20 Sales price of the bicycles returned =…

PROBLEM 2: On April5 , a customer returns 20 bicycles with a sales price of $250 per bike to Barrio Bikes. Each bike cost Barrio Bikes $100. The customer had yet to pay on their account. The bikes are in sellable condition. Prepare the journal entry -or entries to recagnize this return if the company uses A. the perpetual inventory sy stem B. the periodic inventory system

PROBLEM 2: On April5 , a customer returns 20 bicycles with a sales price of $250 per bike to Barrio Bikes. Each bike cost Barrio Bikes $100. The customer had yet to pay on their account. The bikes are in sellable condition. Prepare the journal entry -or entries to recagnize this return if the company uses A. the perpetual inventory sy stem B. the periodic inventory system

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 5EB: On April 20, Barrio Bikes purchased 30 bicycles at a cost of $100 per bike. Credit terms were 4/10,...

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