Current Attempt in Progress Prepare the necessary general journal entries for the month of October for...
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Current Attempt in Progress Prepare the necessary general journal entries for the month of October for Sandhill Retail for each situation given below. Sandhill uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Oct. 5 Paid cash of $15,120 for operating expenses that were incurred and properly recorded in the previous period. 9 Purchased merchandise for $26,400 on account. Credit terms: 3/10, n/30. 12 Paid a freight bill of $128 for merchandise purchased on October 9. 17 Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 Sold merchandise for $9,600 to Rattles Distribution on account. The cost of the merchandise sold was $3,840. Credit terms: 2/10, n/30. 26 Issued a credit memo to Rattles Distribution for $360 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $224. Current Attempt in Progress Prepare the necessary general journal entries for the month of October for Sandhill Retail for each situation given below. Sandhill uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Oct. 5 Paid cash of $15,120 for operating expenses that were incurred and properly recorded in the previous period. 9 Purchased merchandise for $26,400 on account. Credit terms: 3/10, n/30. 12 Paid a freight bill of $128 for merchandise purchased on October 9. 17 Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 Sold merchandise for $9,600 to Rattles Distribution on account. The cost of the merchandise sold was $3,840. Credit terms: 2/10, n/30. 26 Issued a credit memo to Rattles Distribution for $360 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $224.
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JOURNAL ENTRYS DATE Oct 5 Oct 9 Oct 12 Oct 17 Oct 20 Oct 26 ACCOUNT a... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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