Cullumber Co. had the following transactions during October. 1. 2. 3. 4. On October 8, purchased...
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Cullumber Co. had the following transactions during October. 1. 2. 3. 4. On October 8, purchased merchandise on account from Blossom Company for $20,800, terms 2/10, n/30. On October 9, paid freight costs of $640 on merchandise purchased from Blossom Company. On October 11, returned $4,500 of October 8 merchandise to Blossom Company. On October 18, paid the amount due to Blossom Company in full. Use a tabular summary to record the transactions listed above for Cullumber Co.'s books. CullumberCo. uses a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Oct. 8 9 11 18 $ Cash Assets + $ Inventory Liabilities Accounts Payable + + GA Common Stock + $ Rev. $ Stockholders' Equity Exp. Retained Earnings $ Div. > > < Cullumber Co. had the following transactions during October. 1. 2. 3. 4. On October 8, purchased merchandise on account from Blossom Company for $20,800, terms 2/10, n/30. On October 9, paid freight costs of $640 on merchandise purchased from Blossom Company. On October 11, returned $4,500 of October 8 merchandise to Blossom Company. On October 18, paid the amount due to Blossom Company in full. Use a tabular summary to record the transactions listed above for Cullumber Co.'s books. CullumberCo. uses a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Date Oct. 8 9 11 18 $ Cash Assets + $ Inventory Liabilities Accounts Payable + + GA Common Stock + $ Rev. $ Stockholders' Equity Exp. Retained Earnings $ Div. > > <
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Cullumber co Date Oct08 Oct09 Oct11 Oct18 15974 Assets 640 L... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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