Prepare the journal entries to record Marks Music transactions assuming the company uses the earnings approach to
Question:
Prepare the journal entries to record Mark’s Music transactions assuming the company uses the earnings approach to recognize revenue. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit |
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(Cash sale.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(To record cost of goods sold.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(To record cash refund for goods returned.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(To record cost of goods returned.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(To record sales on account.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(To record cost of goods sold.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
(Payment on account.) | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
Nov. 20 | |||
Nov. 2Nov. 4Nov. 5Nov. 7Nov. 8Nov. 10Nov. 13Nov. 16Nov. 20Nov. 22 | |||
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak