ACC HW5-2 - Apr 20 Made sales on account to members $700...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Apr 5 Purchased golf bags, clubs, and balls on account from Ellis Co. $1800, FOB Shipping point, terms 2/10, n/60 Apr 7 Paid freight on ellis purchase $80 Apr 9 Received credit from Ellis Co. for merchandise returned $100 Apr 10 Sold merchandise on account to members $1200 terms n/30. The merchandise sold had a cost of $810 Apr 12 Purchased golf shoes, sweaters, and other accessories on account from Penguin Sportswear $660, terms 1/10, n/30 Apr 14 Paid Ellis Co. in full, less discount Apr 17 Received Credit from Penguin Sportswear for merchandise returned $60
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Apr 20 Made sales on account to members $700 terms n/30. The cost of the merchandise sold was $490 Apr 21 Paid Penguin Sportswear in full, less discount Apr 27 Granted an allowance to members for clothing that did not fit properly $40 Apr 30 Received payments on account from members $1000 No. 101 Cash No. 301 B. Kokott, Capital No. 112 Accounts receivable No. 401 Sales No. 120 Merchandise inventory No. 412 Sales Returns and Allowances No. 201 Accounts Payable No. 505 Cost of Goods Sold...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern