acc chapt5 - Chapter 5 Problem 2 July 1 1 1 3 5 8 12 15 15...

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Chapter 5 Problem 2 1 July 1 A/R $4,200 Sales revenues $4,200 Sold merchandise on account 1 Cost of good sold $2,520 Merchandise inventory $2,520 Tranfer cost of merchandise sold to Good sold account 3 Merchandise inventory $7,600 A/P $7,600 Purchase merchandise on account 5 Freight in $580 Cash $580 Paid freight 8 Merchandise inventory $6,800 Freight in $400 A/P $7,200 Purchase merchandise on account and paid freight 12 A/P $1,200 Merchandise inventory $1,200 Returned portion of merchandise purchase from Angier company 15 A/R $2,400 Sales revenues $2,400 Sold merchandise on account 15 Cost of good sold $1,200 Merchandise inventory $1,200 Transfer cost of merchandise sold to good sold account 17 Cash $2,000 Sales revenues $2,000 Sold merchandise for cash 17 Cost of good sold $1,200 Merchandise inventory $1,200 Transfer cost of merchandise sold to good sold account 18 Sales return and allowances $400 A/R $400 Accepted return of merchandise 18 Merchandise inventory $400 Cost of good sold
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This note was uploaded on 11/23/2009 for the course BUS 122 taught by Professor Dicks during the Fall '09 term at Academy of Design Tampa.

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acc chapt5 - Chapter 5 Problem 2 July 1 1 1 3 5 8 12 15 15...

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