Sarasota Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $24,080, terms n/30, FOB shipping point. The appropriate company paid freight costs of $602 on the merchandise purchased on April 3. Purchased supplies on account for $4,300. Returned merchandise to DeVito and received a credit of $3,010. The merchandise was returned to inventory for future resale. Paid the amount due to DeVito in full. 6 7 8 30 Record the above transactions in Sarasota's books. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts) Date Account Titles and Explanation Debit Credit

Sarasota Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $24,080, terms n/30, FOB shipping point. The appropriate company paid freight costs of $602 on the merchandise purchased on April 3. Purchased supplies on account for $4,300. Returned merchandise to DeVito and received a credit of $3,010. The merchandise was returned to inventory for future resale. Paid the amount due to DeVito in full. 6 7 8 30 Record the above transactions in Sarasota's books. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts) Date Account Titles and Explanation Debit Credit

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Description: DateType here to searchVAccount Titles and Explanation6 1.8DebitCredit18°C Sunny Sarasota Corp. uses a perpetual inventory system. The company had the following inventory transactions in April:April 3 Purchased merchandise from DeVito Ltd. for $24,0

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...

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