Question: Help me please.. Part II - Journal Entries (20 points) Goldenrod Warehouse distributed hard back books to retail stores and extends credit terms of 2/10,

Help me please.. Help me please.. Part II - Journal Entries (20 points) Goldenrod

Part II - Journal Entries (20 points) Goldenrod Warehouse distributed hard back books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June the following merchandising transactions occurred. June. 1 Purchase books on account for $960 (including freight) from Barnum Publisher, t erm 2/10,n/30. 3 Sold books on account to the Flint Hills bookstore for $1,200. The cost of the merchandise sold was $720. 6 Received $60 credit for books returned to Barnum Publisher. 9 Paid Barnum Publisher in full. 15 Received payment in full from the Flint Hills bookstore. 17 Sold books on account to Town Crier Bookstore for $1,400. The cost of the merchandise sold was $840. 20 Purchased books on account for $720 from Good Book Publishers, term 1/5, n/30. 24 Received payment in full from Town Crier Bookstore. 26 Paid Good Book Publishers in full. Sold books on account to Home Town Bookstore for $1,300. The cost of the merchandise sold was $780. 30 Granted Home Town Bookstore $150 credit for books returned costing $90. Instructions: Journalize the transactions for the month of June for Goldenrod Warehouse, using perpetual inventory system 28

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Use the information to answer the quiz questions. ABC Corporation Selected Financial Statement Information for the Year Ended December 31 (In millions except per share data) Income statement (Period...

pense, and Accounts Payable. Prepaid Part II - Journal Entries (20 points) Goldenrod Warehouse distributed hard back books to retail stores and extends credit terms of 2/10, n/30 to all of its...

PART 1 Part I. Adjusting Entries (20 points) Longheach opened an incorporated dental practice on January 1, 2020. During the first month of operations the following transactions occurred: 1....

Problem S-OIA (Video) Sandhi's Book Warehouse distributes hardcover books to retail stores and extends credit terms of 1/10, /30 to all of its customers. At the end of May, Sandhills inventory...

I have attached both the chapters from which you will be answering the following question. Ch 8 (p 387 of text or p 35 of the pdf) ?Exercise D. Prepare the bank reconciliation and any required...

Need help with the transaction set. Journal & ledgers ASAP OPERATING INSTRUCTIONS Introduction After you register for Seaside Marina, you will receive an email from Ivy Software containing three...

This is for accounting. I need the answers as soon as possible to compare because my professor will not help. The transaction set and workbook is attached. OPERATING INSTRUCTIONS Introduction After...

I've attached the question as a word file as well as the class text to help with the assignment. Thanks! c05MerchandisingOperationsandtheMultiple-StepIncomeStatement.qxd 8/14/10 2:14 PM Page 226...

I've attached the assignment as a word file, thanks! You can use the class readings for this week's assignments. c05MerchandisingOperationsandtheMultiple-StepIncomeStatement.qxd 8/14/10 2:14 PM Page...

please help me with this. Im not sure how to do it. I need the general journal, general ledger and unadjusted trial. You have prepared the following chart of accounts. You have set it up so that it...

Show how loss of a proton can be represented using each of the three resonance structures for the arenium ion and show how each representation leads to the formation of a benzene ring with three...

How does property tax funding of K12 education create inequality? Consider your response in terms of both the tax rate and the tax base. What can be done to create greater equality?

A long - term debt ratio of 4 0 % states that Blank _ _ _ _ _ _ . Multiple choice question. $ 0 . 4 0 cents of every dollar of long - term capital is in the form of debt 6 0 % of the company's assets...

SIMAD UNIVERSITY Class: BACC25 Subject: Islamic Accounting Instructions: a) Follow The Instructions. Midterm Exam Instructor: All Ibrahim Date: 6-4-2022 b) You Have 1.5 Hrs. To Complete This Test. c)...

Whom do you call when you have exciting news or when youre feeling down? What makes this person a good listener? Are you a good listener in return when this person calls you?

Consider the examples of listening styles weve given here. Do you favor a particular listening style? Are you able to adopt different styles in different situations?

4. Try smiling (genuinely) more than you usually doand with people you might not usually smile at. See what happens. Do you feel differently about yourself and others? Do others respond with more...