Chapter_5_App_Solutions

Chapter_5_App_Solutions - POST. REF. DEBIT CREDIT Walgreen...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 Appendix B Accounting for Merchandise in a Periodic Inventory System Appendix B Exercises (10-15 min.) E 5B-1 Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT April 30 Purchases 8,000 Accounts Payable 8,000 May 4 Accounts Payable 1,000 Purchase Returns and Allowances 1,000 14 Accounts Payable ($8,000 $1,000) 7,000 Purchase Discounts ($7,000 × .03) 210 Cash ($7,000 $210) 6,790 Accounting 7/e Solutions Manual 136
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
(10-15 min.) E 5B-2 Journal DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT INTERGEM ENTRIES Apr. 30 Accounts Receivable 8,000 Sales Revenue 8,000 May 4 Sales Returns and Allowances 1,000 Accounts Receivable 1,000 14 Cash ($7,000 $210) 6,790 Sales Discounts ($7,000 × .03) 210 Accounts Receivable ($8,000 $1,000) 7,000 Accounting 7/e Solutions Manual 137
Background image of page 2
Appendix B Problem (15-20 min.) P 5B-1 Journal DATE ACCOUNTS AND EXPLANATIONS
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: POST. REF. DEBIT CREDIT Walgreen Entries Nov. 6 Purchases 6,200 Accounts Payable 6,200 6 Freight-In 300 Cash 300 10 Accounts Payable 900 Purchase Returns and Allowances 900 15 Accounts Payable 3,000 Purchase Discounts ($3,000 .02) 60 Cash 2,940 27 Accounts Payable ($6,200 $900 $3,000) 2,300 Cash 2,300 Chapter 5 Appendix B 138 (continued) P 5B-1 DATE ACCOUNTS AND EXPLANATIONS POST. REF. DEBIT CREDIT Providence Medical Supply Entries Nov. 6 Accounts Receivable 6,200 Sales Revenue 6,200 10 Sales Returns and Allowances 900 Accounts Receivable 900 15 Cash 2,940 Sales Discounts ($3,000 .02) 60 Accounts Receivable 3,000 27 Cash 2,300 Accounts Receivable ($6,200 $900 $3,000) 2,300 Accounting 7/e Solutions Manual 139 BLANK PAGE Chapter 5 Appendix B 140...
View Full Document

This note was uploaded on 05/05/2010 for the course BUSINESS 71395 taught by Professor Brown during the Spring '09 term at Miss. College.

Page1 / 5

Chapter_5_App_Solutions - POST. REF. DEBIT CREDIT Walgreen...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online