(ACC100 -Accountng) Wk6 29a-31a-32a-33a p291

(ACC100 -Accountng) Wk6 29a-31a-32a-33a p291 - Journal...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

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

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Journal 1-May Supplies 300 Cash 300 4-May Inventory 6000 Accounts Payable 6000 8-May Accounts Payable (6000 x .50) 3000 Inventory 3000 10-May Cash 450 Sales Revenue 450 10-May Cost of Goods Sold 250 Inventory 250 13-May Accounts Receivable 3900 Sales Revenue 3900 13-May Cost of Goods Sold 1800 Inventory 1800 14-May Accounts Payable (6000 - 3000) 3000 Cash (3000 x .97) 2910 Inventory (3000 x .03) 90 17-May Sales Returns & Allowances 900 Accounts Receivable 900 17-May Inventory 600 Cost of Goods Sold 600 18-May Inventory 5000 Accounts Payable 5000 26-May Accounts Payable 5000 Inventory (5000 x .02) 100 Cash (5000 x .98) 4900 28-May Cash { (3900 - 900) x .98 } 2940 Sales Discount { (3900 - 900) x .02 } 60 Accounts Receivable (3900 - 900) 3000 29-May Inventory 2160 Cash 2160 Northeast Electronics Income Statement Month Ended May 31, 2009 Sales Revenue 296,600 Less : Sales discounts (-2400) Sales returns & allowances (-8000) Net sales revenue 286,200 Cost of goods sold 162,000 Gross profit 124,200...
View Full Document

This note was uploaded on 01/19/2012 for the course ACCOUNING ACC100 taught by Professor Rebecca during the Spring '11 term at Strayer.

Page1 / 7

(ACC100 -Accountng) Wk6 29a-31a-32a-33a p291 - Journal...

This preview shows document pages 1 - 3. Sign up to view the full document.

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