Sosa Tires uses a perpetual inventory system. Sosa Tires received the following invoice from a supplier...

  
 
 

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Sosa Tires uses a perpetual inventory system. Sosa Tires received the following invoice from a supplier (Miles Distribution, Inc.). (Click the icon to view the invoice.) Read the requirements. Date Accounts and Explanation Debit Credit Sep. 23 Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Check Answer Miles Distribution, Inc. 7290 S. Prospect Street Ravenna, OH 44266 Invoice date: September 23, 2018 Sold to: Sosa Tires Payment terms: 1/10, n/30 6678 Diamond Avenue Ravenna, OH 44266 Print Done 1. Journalize the transaction required by Sosa Tires on September 23, 2018. Do not round numbers to the nearest whole dollar. Assume tires are purchased on account. 2. Journalize the return on Sosa's books on September 28, 2018, of the D39-X4 Radials, which were ordered by mistake. Do not round numbers to the nearest whole dollar. 3. Journalize the payment on October 1, 2018, to Miles Distribution, Inc. Do not round numbers to the nearest whole dollar. Print Done Description Quanty Shipped Price $37.45 $44.26 Amount $187.25 $265.56 D39-X4 Radials M223 Belted-bias Q92 Truck tires 6' $55.85 $167.55 Total $620.36 Amount: $614.16 Due date: October 3, 2018 October 4 througn October 23, 2018 $620.36 Print Done Sosa Tires uses a perpetual inventory system. Sosa Tires received the following invoice from a supplier (Miles Distribution, Inc.). (Click the icon to view the invoice.) Read the requirements. Date Accounts and Explanation Debit Credit Sep. 23 Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Check Answer Miles Distribution, Inc. 7290 S. Prospect Street Ravenna, OH 44266 Invoice date: September 23, 2018 Sold to: Sosa Tires Payment terms: 1/10, n/30 6678 Diamond Avenue Ravenna, OH 44266 Print Done 1. Journalize the transaction required by Sosa Tires on September 23, 2018. Do not round numbers to the nearest whole dollar. Assume tires are purchased on account. 2. Journalize the return on Sosa's books on September 28, 2018, of the D39-X4 Radials, which were ordered by mistake. Do not round numbers to the nearest whole dollar. 3. Journalize the payment on October 1, 2018, to Miles Distribution, Inc. Do not round numbers to the nearest whole dollar. Print Done Description Quanty Shipped Price $37.45 $44.26 Amount $187.25 $265.56 D39-X4 Radials M223 Belted-bias Q92 Truck tires 6' $55.85 $167.55 Total $620.36 Amount: $614.16 Due date: October 3, 2018 October 4 througn October 23, 2018 $620.36 Print Done

Answer rating: 100% (QA)

Journal Entries Date Account Title and Explaination Post Debit C... View the full answer