Question

The following transactions relate to Hawkins, Inc., an office store wholesaler, during June of this year. Terms of sale are 2/10, n/30. The company is located in Los Angeles, California.
June 1 Sold merchandise on account to Hendrix Office Store, invoice no. 1001, $ 451.20. The cost of the merchandise was $ 397.06.
3 Bought merchandise on account from Krueger, Inc., invoice no. 845A, $ 485.15; terms 1/10, n/30; dated June 1; FOB San Diego, freight prepaid and added to the invoice, $ 15 (total $ 500.15).
10 Sold merchandise on account to Ballard Stores, invoice no. 1002, $ 2,483.65. The cost of the merchandise was $ 2,235.29.
13 Bought merchandise on account from Kennedy, Inc., invoice no. 4833, $ 2,450.13; terms 2/10, n/30; dated June 11; FOB San Francisco, freight prepaid and added to the invoice, $ 123 (total $ 2,573.13).
18 Sold merchandise on account to Lawson Office Store, invoice no. 1003, $ 754.99. The cost of the merchandise was $ 671.94.
20 Issued credit memo no. 33 to Lawson Office Store for merchandise returned, $ 103.25. The cost of the merchandise was $ 91.89.
25 Bought merchandise on account from Villarreal, Inc., invoice no. 4R32, $ 1,552.30; terms net 30; dated June 18; FOB Santa Rosa, freight prepaid and added to the invoice, $ 84 (total $ 1,636.30).
30 Received credit memo no. 44 for merchandise returned to Villarreal, Inc., for $ 224.50.

Required
Record the transactions in the general journal (pages 25 and 26) using the perpetual inventory system.



$1.99
Sales3
Views121
Comments0
  • CreatedOctober 21, 2014
  • Files Included
Post your question
5000