Question: #2) *please dont miss doing the category beside debit it is credit just was cut off partially. #3) Pina Colada Corp. uses a periodic inventory




Pina Colada Corp. uses a periodic inventory system. The company had the following inventory transactions in April: April 3 6 7 Purchased merchandise from Flint Ltd. for $25 300, terms 1/30, FOB shipping point The appropriate company paid freight costs of $710 on the merchandise purchased on April 3. Purchased supplies on account for $4.710 Returned damaged merchandise to Flint received a credit of $3.500. The merchandise was returned to inventory for future resale. Paid the amount due to Flint infull. 8 30 1 2 The cost of the merchandise sold on April 3 was $18.140. Flint expected a return rate of 15%. The cost of the merchandise returned on April 8 was $2.200 Flint uses a periodic Inventory system 3 Record the above transactions in Pina Colada's books and in the books of Flint. Both companies use the periodic inventory system (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Pina Colada Corp Date Account Titles and Explanation Debit Cre -16 Question 3 of 5 Pina Colada Corp Account Tities and Explanation Debit Credit Flint Ltd Account Titles and Explanation Credit Debit Listed below are some transactions for Resistant Products Ltd, which uses a perpetual inventory system and reports under ASPE May Sold inventory on account to Jameson Inc, terms 2/10, 1/30. Selling price $16,800, cost $6.720. 2 3 Received a portion of the inventory sold on the previous day because it was damaged Inventory that could never be sold in the future. Selling price $1.260, cost $504. Received a portion of the inventory sold on May 2 that was in good condition and could be sold to other customers in the future. Selling price $1,740, cost $1,008. Received payment in full from Jameson Inc. for the amount due from the sale made on May 2 5 7 (a) Record the journal entry or entries for each of the transactions above Date Account Titles and Explanation Debit (a) Record the journal entry or entries for each of the transactions above. Credit ount Titles and Explanation Debit
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