This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Artist # 4,775 Spring Break Artist # 5,000 Inland Gallery # 7,880 Alligators Return Artist # 19,720 Frost and Farm Gallery # 14,300 TOTAL OWNED INVENTORY AT RETAIL-$ DIVIDED BY MARKUP RATE TOTAL INVENTORY VALUE FOR THE BALANCE SHEET $ - 1 of 2 Name: Date: Section: B-08.02 (c) GENERAL JOURNAL Date Accounts Debit Credit Cash Commission Revenue Accounts Payable To record sale of art held on consignment (25% revenue and 75% payable to artist) 2 of 2...
View Full Document