ACC HW5 - 150 Accounts Receivable 150 goods) Merchandise...

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Maya Jordan Phantom Book Warehouse HW 5 Journal Entries 11-Oct Month Ending June 30th 1/ Merchandise Inventory 800 Accounts Payable 2/10, n/30 800 3 Accounts Receivable 1200 Sales 1200 6 Accounts Payable 50 Merchandise Inventory 50 9 Accounts Payable 750 Cash 735 Merchandise Inventory 15 (payment within discount period) 15 Cash 1200 Accounts Receivable 1200 17 Accounts Receivable 1200 Sales 1200 20 Merchandise Inventory 550 Accounts Payable 2/15, n/30 550 24 Cash 1200 Accounts Receivable 1200 26 Accounts Payable 550 Cash 539 Merchandise Inventory 11 28 Accounts Receivable 1100 Sales 1100 30 Sales Returns and Allowances
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Unformatted text preview: 150 Accounts Receivable 150 goods) Merchandise Inventory 75 Cost of Goods Sold 75 (to record cost of goods returned) (record goods purchased from Ex Libris on account) (credit sale to Readers R US ) (credit for 10 books returned to Ex Libris ) (record payment from Readers R US ) (credit sale to Bargain Books ) (record goods purchased from Bookem Publishers ) (payment from Bargain Books ) (payment to Bookem Publishers ) (credit sale to Read-n-Weep ) (record credit granted to Read-n-Weep for returned...
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