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Unformatted text preview: (c) GENERAL JOURNAL Date Accounts Debit Credit 7-Jan Purchased $147,000 of inventory on account (7,000 X $21) 12-Jan Sold merchandise on account (9,000 X $35) 12-Jan To record the cost of merchandise sold 17-Jan Purchased $88,000 of inventory on account (4,000 X $22) 26-Jan Sold merchandise on account (3,000 X $37) 26-Jan To record the cost of merchandise sold 1 of 2 Name: Date: Section: I-08.03(c-f) (d) (e) (f) 2 of 2...
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- Spring '11
- Accounting, Goods Sold, FIFO and LIFO accounting