On November 10, 201X, a voucher for $1,000 for merchandise purchased on account from Beverly Company was
Question:
On November 10, 201X, a voucher for $1,000 for merchandise purchased on account from Beverly Company was prepared by Lake Corporation. On November 14, Lake decided to return merchandise due to poor workmanship. The price of the merchandise returned was $570. Record the entries in general journal form for November 10 and 14.
Step by Step Answer:
201X Nov 10 Purchases 1 0 0 0 00 Vouchers Payable Beverly Co 1 0 0 0 ...View the full answer
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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