Delicious Treats is a Calgary company which sells tubs of raw cookie dough to restaurants. At...

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Delicious Treats is a Calgary company which sells tubs of raw cookie dough to restaurants. At the end of May, the company had the following items in inventory: Product # of tubs Cost per Tub Total Chocolate Chip 90 $10.00 $900 Oatmeal Raisin $9.00 12 $108 Peanut Butter 45 $8.00 $360 For each of the following situations, prepare the necessary journal entry for June. If no entry is required, clearly indicate by writing "No Entry". No journal descriptions required. Jun 3 Received 100 tubs of Oatmeal Raisin at a price of $11.00 per tub from Healthy Desserts. Terms were 1/10, n/45. Jun 5 Placed an order with Southern Specialties for 200 tubs of Peanut Butter for $2,000. Southern Specialties terms are n/30, FOB Shipping Point. The order shipped on June 8 and Delicious Treats received it on June 13. June 10 Sold 30 tubs of Chocolate Chip to a restaurant in Calgary for $24 per tub, terms 2/15, n/30. June 11 The appropriate party paid the $225 in freight costs for the June 5 order with Southern Specialties June 12 Paid Healthy Desserts the amount owing. June 13 Gave the Calgary restaurant a $70 allowance for accidentally shipping 5 tubs of Oatmeal Raisin instead of Chocolate Chip. The restaurant kept the tubs. June 23 The Calgary restaurant paid its amount owing. June 25 An employee discovered that 4 tubs of Chocolate Chip were missing from the freezers. Delicious Treats is a Calgary company which sells tubs of raw cookie dough to restaurants. At the end of May, the company had the following items in inventory: Product # of tubs Cost per Tub Total Chocolate Chip 90 $10.00 $900 Oatmeal Raisin $9.00 12 $108 Peanut Butter 45 $8.00 $360 For each of the following situations, prepare the necessary journal entry for June. If no entry is required, clearly indicate by writing "No Entry". No journal descriptions required. Jun 3 Received 100 tubs of Oatmeal Raisin at a price of $11.00 per tub from Healthy Desserts. Terms were 1/10, n/45. Jun 5 Placed an order with Southern Specialties for 200 tubs of Peanut Butter for $2,000. Southern Specialties terms are n/30, FOB Shipping Point. The order shipped on June 8 and Delicious Treats received it on June 13. June 10 Sold 30 tubs of Chocolate Chip to a restaurant in Calgary for $24 per tub, terms 2/15, n/30. June 11 The appropriate party paid the $225 in freight costs for the June 5 order with Southern Specialties June 12 Paid Healthy Desserts the amount owing. June 13 Gave the Calgary restaurant a $70 allowance for accidentally shipping 5 tubs of Oatmeal Raisin instead of Chocolate Chip. The restaurant kept the tubs. June 23 The Calgary restaurant paid its amount owing. June 25 An employee discovered that 4 tubs of Chocolate Chip were missing from the freezers.

Answer rating: 100% (QA)

date jun 3 Dr healthy deserts 1100 Cr delicious treats 1100 jun5 Dr sout... View the full answer