Brewer, Inc. distributes sporting goods to retail stores and extends credit terms of 3 / 1 0
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Question:
Brewer, Inc. distributes sporting goods to retail stores and extends credit terms of n to all of its customers. During the month of July, the following merchandising transactions occurred:
July Sold baseball bats on account to Molitor, Inc. for $ The cost of bats sold is $
Purchased baseball bats on account for $ from Yount Manufacturers, terms n
Paid Yount Manufacturers in full.
Received payment in full from Molitor, Inc.
Purchased baseball bats on account for $ from Braun Manufacturers, terms n
Sold baseball bats on account to Uecker, Inc. for $ The cost of the baseball bats sold was $
Received payment in full from Uecker, Inc.
Received $ credit for baseball bats returned to Braun Manufacturers.
Sold baseball bats on account to Yelich Industries for $ The cost of baseball bats sold was $
Paid Braun Manufacturers in full.
Granted Yelich Industries $ credit for baseball bats returned costing $
Instructions
Journalize the transactions for the month of July for Brewer, Inc. using a perpetual inventory system.
Related Book For
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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