Question
On June 30, 2019, Hayes Jewelers purchased inventory of $5,800 on account from Slater Diamonds, a jewelry importer. Terms were 3/15, net 45. The
On June 30, 2019, Hayes Jewelers purchased inventory of $5,800 on account from Slater Diamonds, a jewelry importer. Terms were 3/15, net 45. The same day Hayes paid freight charges of $400. Upon receiving the goods, Hayes checked the order and found $800 of unsuitable merchandise, which was returned to Slater on July 4. Then on July 14, Hayes paid the invoice. Requirements 1. Journalize all necessary transactions for Hayes Jewelers. Explanations are not required. Req. 1 DATE June 30 30 July 4 14 Journal ACCOUNTS AND EXPLANATIONS POST.REF. DEBIT CREDIT
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
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978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
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