plz do it fast 1) Sept1 sold inventory to JenAir for $6000 (...
50.1K
Verified Solution
Link Copied!
Question
Accounting
plz do it fast
1) Sept1 sold inventory to JenAir for $6000 ( cost is $4200) term 2/10, 1/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit Inc. Term 1/10, n/30 FOB 3) Sep3 business paid the delivery cost $430 for shipping the Sep1 inventory to JenAir 4) Sep4 Skylimit sent a $250 debit memo to business for the Sep2, 2020 Inventory purchase. 5) Sept9 sold inventory to Dennis for $1800 ( cost of sales $1500) term 2/10, n/30 3 Terms: 2/15, n/30 5 6) Sept13, busines collected amount from JenAir in full 8 97) Sep12, business paid Skylimit in full 55 8) Sep14, business bought $5,500 from PacificEast Inc. 56 Terms: 2/5, n/30 FOB 61 9) Sep15, business issued a credit memo $375 to Dennis for the Sep9 Inventory sales 54 65 10) Sep21, business paid Pacific East in full 68 69 11) Sept24, collected amount owing from Dennis 74 75
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!
