You are the accountant for Medieval Castles, Inc. Preapre the journal entries to record the transactions below
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Question:
You are the accountant for Medieval Castles, Inc. Preapre the journal entries to record the transactions below
using the perpetual inventory method.
Points
June Purchased play castles at a cost of $ each on account with terms of n
June Paid $ shipping costs from June purchase.
June Sold castles on account to Geneviere Blaylock for $ each with terms n The
castles had an original cost to Medieval Castles of $ each.
June The wrong castles were sent to Geneviere Blaylock the customer from June th We
agreed to give her an allowance of $ for the error as she decided to keep them.
June Paid cash for June purchase less the discount.
June Geneviere Blaylock the customer from June th paid cash for the amount owed from the
sale less the allowance and discount.
June Sold castles to Joan Arc for $ each in cash. The castles had an original cost to Medieval
Castles of $ each.
June Purchased castles at a cost of $ each on account with terms n
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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