Exercise E5-3, E5-15, E5-16

Exercise E5-3, E5-15, E5-16 - 41,090 Freight-in 110 250...

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Date Account Debit Credit 6-Sep Merchandise Inventory 20         Cash 20 9-Sep Merchandise Inventory 80         Cash 80 10-Sep Cash 42         Merchandise Inventory 42 12-Sep Accounts Receivable 806         Sales 806 12 Cost of Goods Sold 546         Merchandise Inventory 546 14-Sep Sales, Returns, and Allowances 31         Accounts Receivable 31 14-Sep Merchandise Inventory 31        Cost of goods sold 31 20-Sep Accounts Receivable 930        Sales 930 20 Cost of Goods Sold 630        Merchandise Inventory 630
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B F L R Beginning Inventory $150  $70  $1,000  $6,200  Purchases 1,600 1,080 6,500 43,590 Purchase returns and allowances 40 50 290 2,500 Net purchases 1,560 1,030 6,210
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Unformatted text preview: 41,090 Freight-in 110 250 1,730 2,240 Cost of goods purchased 1,670 1,280 7,940 43,330 Cost of goods available for sale 1,820 1,350 8,940 49,530 Ending inventory 310 120 1,450 6,230 Cost of goods sold 1,510 1,230 7,490 43,300 a) Date Account Debit Credit 5-Apr Purchase 20,000 Accounts Payable 20,000 6-Apr Freight in 900 Cash 900 7-Apr Purchase 26,000 Accounts Payable 26,000 8-Apr Accounts Payable 2,800 Purchas returns and allowances 2,800 15-Apr Accounts Payable 17,200 Cash 16,856 Discounts 344 b) 15-Apr Accounts Payable 17,200 Cash 17,200...
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This note was uploaded on 04/30/2011 for the course ACC 281 taught by Professor Feleciawhitley during the Spring '10 term at University of Phoenix.

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Exercise E5-3, E5-15, E5-16 - 41,090 Freight-in 110 250...

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