3A-P5-3A,5-9A SOLUTIONS - PROBLEM 5-3A(a Date Apr 5 7 9 10...

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5-27 PROBLEM 5-3A (a) General Journal Date Account Titles Debit Credit Apr. 5 Merchandise Inventory .................................. Accounts Payable ................................... 1,800 1,800 7 Merchandise Inventory .................................. Cash .......................................................... 80 80 9 Accounts Payable ........................................... Merchandise Inventory ........................... 200 200 10 Accounts Receivable ...................................... Sales ......................................................... Cost of Goods Sold ........................................ Merchandise Inventory ........................... 910 620 910 620 12 Merchandise Inventory .................................. Accounts Payable ................................... 730 730 14 Accounts Payable ($1,800 – $200) ................ Merchandise Inventory ($1,600 X 3%) .. Cash .......................................................... 1,600 48 1,552 17 Accounts Payable ........................................... Merchandise Inventory ........................... 30 30 20 Accounts Receivable ...................................... Sales ......................................................... Cost of Goods Sold ........................................ Merchandise Inventory ........................... 840 550 840 550 21 Accounts Payable ($730 – $30) ..................... Merchandise Inventory ($700 X 1%) ..... Cash .......................................................... 700 7 693
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5-28 PROBLEM 5-3A (Continued) Date Account Titles Debit Credit Apr. 27 Sales Returns and Allowances ..................... Accounts Receivable ............................. 60 60 30 Cash ................................................................. Accounts Receivable ............................. 1,100 1,100 (b) Cash 4/1 Bal. 2,500 4/30 1,100 4/7 80 4/14 1,552 4/21 693 4/30 Bal. 1,275 Accounts Receivable 4/10 910 4/20 840 4/27 60 4/30 1,100 4/30 Bal. 590 Merchandise Inventory 4/1 Bal. 3,500 4/5 1,800 4/7 80 4/12 730 4/9 200 4/10 620 4/14 48 4/17 30 4/20 550 4/21 7 4/30 Bal. 4,655 Accounts Payable 4/9 200 4/14 1,600 4/17 30 4/21 700 4/5 1,800 4/12 730 4/30 Bal. 0 Common Stock 4/1 Bal. 6,000 4/30 Bal.
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