COLLEGE ACCOUNTING W/ ACCESS >BI<
13th Edition
ISBN: 9780357531822
Author: Scott
Publisher: CENGAGE L
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Chapter 9, Problem 1E
Record the following transactions in general journal form.
- a. Sold merchandise on account to D. North, invoice no. 4556, $2,515.25.
- b. Sold merchandise on account to NexStar Industries, invoice no. 4557, $775.00.
- c. NexStar Industries returned $225.50 worth of the merchandise. Issued credit memo no. 101.
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Record the following sales transactions in general journal form on the books of Collins Company (the seller).
a.
Sold merchandise on account to Gallagher Company, invoice No. 1501, $2,000; terms 1/10, n/30.
b.
Issued credit memo No. 125 to Gallagher Company for damaged merchandise, $250.
c.
Gallagher Company paid the account in full within the discount period.
If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent.
Record the following transactions in general journal form for Ford Education Outfitters and Romero Textbooks, Inc.
Ford Educational Outfitters bought merchandise on account from Romero Textbooks, Inc., invoice no. 10594, $1,888.13; terms net 30 days; FOB destination. Romero Textbooks, Inc., paid $90.31 for shipping.
Ford Education Outfitters received credit memo no. 513A from Romero Textbooks, Inc., for merchandise returned, $149.93.
Required:
1. For Ford Education Outfitters. Round your answers to the nearest cent.
GENERAL JOURNAL
PAGE
DATE
DESCRIPTION
DOC. NO.
POST. REF.
DEBIT
CREDIT
(a)
Purchased merchandise from Romero Textbooks, Inc., invoice no. 10594, terms n/30.
(b)
Credit memo no. 513A for return of merchandise.
2. For Romero Textbooks, Inc. Round your answers to the nearest cent.…
Merchandise with a sales price of $2,800 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a
a.debit to Customer Refunds Payable for $56
b.credit to Sales for $2,744
c.debit to Accounts Receivable for $2,800
d.debit to Cash for $2,800
Chapter 9 Solutions
COLLEGE ACCOUNTING W/ ACCESS >BI<
Ch. 9 - Which of the following is true about the Sales...Ch. 9 - What is the accounts receivable ledger? a. A...Ch. 9 - Using the information contained in the accounts...Ch. 9 - Prob. 4QYCh. 9 - What does the 2 in 2/10, n/30 mean? a. Pay in 2...Ch. 9 - Prob. 6QYCh. 9 - The schedule of accounts payable lists each...Ch. 9 - If the seller assumes the entire cost of...Ch. 9 - Under the perpetual inventory system, how does the...Ch. 9 - Purchases on account of merchandise for resale...
Ch. 9 - What is the difference between a wholesale...Ch. 9 - For each of the following accounts, identify...Ch. 9 - Prob. 3DQCh. 9 - Why is an accounts receivable ledger or an...Ch. 9 - Why is it a good practice to post daily to the...Ch. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQCh. 9 - Prob. 11DQCh. 9 - Prob. 12DQCh. 9 - Record the following transactions in general...Ch. 9 - Post the following entry to the general ledger and...Ch. 9 - Record the following transactions in general...Ch. 9 - Journalize the following transactions in general...Ch. 9 - Post the following entry to the general ledger and...Ch. 9 - Record the following transactions in general...Ch. 9 - Record the following transactions for a perpetual...Ch. 9 - Toby Company had the following sales transactions...Ch. 9 - Williams Corporation had the following purchases...Ch. 9 - Kelley Company has completed the following October...Ch. 9 - Bell Florists sells flowers on a retail basis....Ch. 9 - Berrys Pet Store records purchase transactions in...Ch. 9 - Shirleys Beauty Store records sales and purchase...Ch. 9 - The following transactions relate to Hawkins,...Ch. 9 - Gomez Company sells electrical supplies on a...Ch. 9 - Patterson Appliance uses a three-column purchases...Ch. 9 - Prob. 1PBCh. 9 - Lowerys Pet Depot records purchase transactions in...Ch. 9 - Mays Beauty Store records sales and purchase...Ch. 9 - The following transactions relate to Khan, Inc., a...Ch. 9 - Prob. 5PBCh. 9 - West Bicycle Shop uses a three-column purchases...Ch. 9 - Prob. 1ACh. 9 - You are the bookkeeper at a small merchandising...Ch. 9 - Following is a trial balance prepared just before...Ch. 9 - Sales and Purchases Ms. Valli of All About You Spa...
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