en Using the accounts listed below, review the following transactions for April Anglers and record any...

   

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en Using the accounts listed below, review the following transactions for April Anglers and record any required journal entries. April Anglers uses the periodic inventory system: Accounts Payable Merchandise Inventory Accounts Receivable Cash Cost of Goods Sold Purchases CR Purchase Discounts Purchase Returns and Allowances Sales Sales Discounts Sales Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). . Oct. 4: April Anglers purchases 80 fishing poles at $40 each with cash. DR de the purchase are 3/15, n/30, invoice date October 5. DR CR • Oct. 12: April Anglers discovers 15 of the fishing poles are damaged from the October 4 purchase and returns them to the supplier for a full refund. DR • CR Oct. 13: April Anglers also discovers that 35 of the fishing poles from the October 4 5 purchase are the wrong length but keeps them since the supplier granted an allowance of $20 per fishing pole. DR CR ● Oct. 18: April Anglers pays their account in full from the October 5 purchase. DR DR or CR? CR 20 en Using the accounts listed below, review the following transactions for April Anglers and record any required journal entries. April Anglers uses the periodic inventory system: Accounts Payable Merchandise Inventory Accounts Receivable Cash Cost of Goods Sold Purchases CR Purchase Discounts Purchase Returns and Allowances Sales Sales Discounts Sales Returns and Allowances Sales Tax Payable PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). . Oct. 4: April Anglers purchases 80 fishing poles at $40 each with cash. DR de the purchase are 3/15, n/30, invoice date October 5. DR CR • Oct. 12: April Anglers discovers 15 of the fishing poles are damaged from the October 4 purchase and returns them to the supplier for a full refund. DR • CR Oct. 13: April Anglers also discovers that 35 of the fishing poles from the October 4 5 purchase are the wrong length but keeps them since the supplier granted an allowance of $20 per fishing pole. DR CR ● Oct. 18: April Anglers pays their account in full from the October 5 purchase. DR DR or CR? CR 20

Answer rating: 100% (QA)

Journal Entries are as follows i Oct 4 In April Anglers purchase 80 fishing poles at 40 each with ca... View the full answer