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addietreed2969
10.03.2020 •
Business
Blossom Company uses a perpetual inventory system. Its beginning inventory consists of 108 units that cost $73 each. During June, (1) the company purchased 323 units at $73 each on account, (2) returned 13 units for credit, and (3) sold 269 units at $108 each. Journalize the June transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Ответ:
The journal entries are as follows:
(1) Merchandise Inventory A/c (323 × $73) Dr. $23,579
To accounts payable $23,579
(To record the Purchase made on account)
(2) Accounts Payable A/c (13 × $73) Dr. $949
To Merchandise Inventory A/c $949
(To record the merchandise returned)
(3) Accounts Receivables A/c (269 × $108) Dr. $29,052
To Sales Revenue $29,052
(To record the merchandise sold on account)
Cost of Goods sold A/c (269 × $73) Dr. $19,637
To Merchandise Inventory $19,637
(To record the merchandise sold)
Ответ: