The following transactions occurred between Sasaki's Fine Furnishings and C & C Furniture Warehouse during May of

Question:

The following transactions occurred between Sasaki's Fine Furnishings and C & C Furniture Warehouse during May of the current year:

May 4 Sasakis Fine Furnishings purchased $6,200 of merchandise from C & C

Furniture Warehouse on account, Terms. 3/15, n/30. FOB shipping point

The goods cost C & C Furniture Warehouse $4,100.

7 Sasakis Fine Furnishings paid a $345 freight bill for delivery of the goods purchased on May 4.

10 Sasakis Fine Furnishings returned $1300 of the merchandise purchased on

May 4 The goods cost C & C Furniture Warehouse $750.

18 Sasakis Fine Furnishings paid $1,500 of the May 4 invoice less the discount.

31 Sasakis Fine Furnishings paid the remaining amount owed on the May 4 invoice.

Requirements

1. Journalize these transactions on the books of Sasaki's Fine Furnishings.

2. Journalize these transactions on the books of C & C Furniture Warehouse?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

Question Posted: