Review the following transactions for Birdy Birdhouses and record any required journal entries. Sep. 6 Sep. 8
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Review the following transactions for Birdy Birdhouses and record any required journal entries.
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Sep. 6 Sep. 8 Sep. 10 Sep. 18 Birdy Birdhouses purchases 55 birdhouses at $40 each with cash. Birdy Birdhouses purchases 80 birdhouses at $45 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. Birdy discovers 10 of the birdhouses are damaged from the Sept 6 purchase and returns them to the supplier for a full refund. Birdy also discovers that 10 of the birdhouses from the Sept 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $20 per birdhouse. Birdy pays their account in full from the September 8 purchase, less any returns, allowances, and/or discounts.
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Sept 6 Debit Cash 2200 55 x 40 Credit Inventory 2200 Sept 8 ...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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