Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on june 10, bridgeport company purchased $7,450 of

On June 10, Bridgeport Company purchased $7,450 of merchandise on account from Bramble Company. FOB...

50.1K

Verified Solution

Question

Accounting

image
image
On June 10, Bridgeport Company purchased $7,450 of merchandise on account from Bramble Company. FOB shipping point, terms 2/10,n/30. Bridgeport pays the freight costs of $560 on June 11 . Goods totaling $650 are returned to Bramble for credit on June 12. On June 19, Bridgeport pays Bramble Company in full, less the discount. Both companies use a perpetual inventory system. (a) Your answer is partially correct. Prepare separate entries for each transaction on the books of Bridgeport Company. (Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.)

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption...

Accounting
Q

3 Capillary action happens when A B Gravity is stronger than adhesion Adhesion to the...

Biology
Q

A drop of water of mass m 0 4 g is placed between two clean...

Physics
Q

The accompanying table gives domestic supply and demand schedules for a product Suppose that the...

Basic Math
Q

From experience, an airline knows that only 85% of the passengers booked for a certain...

Basic Math
Q

At the beginning of an experim

Calculus
Q

Required information [The following information applies to the questions displayed below.] Data for...

Accounting
Q

Question 19 Any person lacking moral principles is said to be: Not yet answered Marked...

Accounting
Q

Tlme remaining: 2:32:50 100.00 points Lucas Company is oonsidering investing in a new machine. The...

Accounting
Q

Ronaldo is the CFO of Manchester, Inc. The company currently has an investments portfolio that...

Accounting
Q

Mid Michigan Manufacturing, Inc. (hereinafter referred to as the company), has had a surge in...

Accounting
Q

Product Costs Bobs Bistro produces party-sized hoagie sandwiches. For next year, Bobs Bistro predicts that...

Accounting