e5-4a - $10,500 inventory $10,500 10-Oct accounts payable...

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Gagandip Singh e5-4b e5-8b e5-13b p5-1b e5-4b sales $650,000 sales returned and allowences $(15,000) Sales Discounts $(8,000) net sales $627,000 net sales $627,000 cost of goods sold $(256,000) gross margin $371,000 e-5-8b Date Journal Entry Debits Credits 2-Oct inventory $15,000 accounts payable $15,000 5-Oct accounts payable $100 inventory $100 6-Oct accounts reciev. $18,000 sales revenue $18,000 costs of goods sold
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Unformatted text preview: $10,500 inventory $10,500 10-Oct accounts payable $14,900 inventory $298 cash $14,602 10-Oct sales returned allow. $200 accounts reciev. $200 23-Oct cash $17,444 accounts reciev. $17,444 29-Oct salary expense $1,500 cash $1,500 31-Oct rent expense $1,450 cash $1,450 e5-13b gross profit 19.53% Profit Margin Ratio 16% p5-1b I dont see a p5-1b anywhere in the book...
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This note was uploaded on 04/21/2008 for the course ACC 100 taught by Professor Jain during the Spring '08 term at Niagara University.

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e5-4a - $10,500 inventory $10,500 10-Oct accounts payable...

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