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Unformatted text preview: 4 On April 5th, paid suppliers for kayaks purchased on 4/3. 5 On April 5th, customers returned three kayaks because they didn't intend to order them in the first place. 6 On April 6th, Sid received all amounts owed to him as of April 6th from his customers. **assume the perpetual inventory system Transaction # 1 A/R 12000 COGS 8000 Revenue 12000 Inventory 8000 2 Inventory 10000 A/P 10000 3 A/P 2000 Inventory 2000 4 A/P 8000...
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- Spring '08
- Financial Accounting, 1932, 1920, Supply chain management terms, Discounts and allowances, 1930