Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. distributing company completed these merchandising

Distributing Company completed these merchandising transactions in the month of April. ccount from Am-Bev Co....

70.2K

Verified Solution

Question

Accounting

image
Distributing Company completed these merchandising transactions in the month of April. ccount from Am-Bev Co. $8,700, terms 4/10, n/30. Question 5) Krey Apr. 2 Purchased merchandise on a 4 Sold merchandise on account $8.000, terms 2/10, n/30. The cost of the merchandise sold was $3,700 5 Paid $250 freight on April 4 sale. Received credit rom Am-Bev Co. for merchandise returned $500. 11 Paid Am-Bev Co. in full. 13 Received collections in full from customers billed on April 4. 14 Purchased merchandise for cash $4,700. 16 Received refund from supplier for returned merchandise on cash purchase of April 14, s500. 18 Purchased merchandise from Lohr Distributors $5,500, terms 3/10, n/30. 20 Paid freight on April 18 purchase $180. 23 Sold merchandise for cash $8,300. The cost of the merchandise sold was $5,580 26 Purchased merchandise for cash $2,300. 27 Paid Lohr Distributors in full. 29 Made refunds to cash customers for returned merchandise $180. The returned merchandise had a cost of $120 30 Sold merchandise on account $3,980, terms n/30. The cost of the merchandise sold was $2,500. Instructions: Journalize the transactions using a perpetual inventory system (in color)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

what is the Technological environment of Shoedazzle business company ? explain

General Management
Q

A person is unable to read the newspaper but he can read it by shifting...

Physics
Q

Find the mean for the following group of data items 5 9 7 9 1...

Basic Math
Q

A strain of bacteria is placed into a petri dish at 30 C and allowed...

Statistics
Q

If f x 2x x3 find f x F x f x and f x...

Calculus
Q

Marios Marketing Firm, a market research firm, had the following transactions in June, its first...

Accounting
Q

Lisa Anderson recently started a business, Anderson Events, that will provide promotion and advertising for...

Accounting
Q

EyeGuard Equipment Incorporated (EEI) manufactures protective eyewear for use in commercial and home applications. The...

Accounting
Q

Link Ltds income statement for the years ended 31 December 2022 and 2023, and the...

Accounting
Q

Bugle Corp has sales of $400,000, a variable cost ratio of 40%, and a profit...

Accounting
Q

Dan, age 45, is an independent contractor working in pharmaceutical sales, Cheryl, age 42, is...

Accounting
Q

Please complete, thank you! Class, Riley Natural Fertilizer, Inc. issued $780,000 of 8% face...

Accounting