Question: just need help with the wrong parts ur the worR you nav completed so far. It does not indicate comp Exercise 3-16 Effect of sales




just need help with the wrong parts
ur the worR you nav completed so far. It does not indicate comp Exercise 3-16 Effect of sales returns and allowances and freight costs on the financial statements: Perpetual system LO 3-4 points retained earnings. During 2018, Powell experienced the following events 1. Sold merchandise costing $59,500 for $102 500 on account to Prentise Furniture Store 2 Delivered the goods to Prentise under terms FOB destination. Freight costs were $1,000 cash eceived returned goods from Prentise. The goods cost Powell $4 300 and were sold to Prentise for $5,400 4. Granted Prentise a $3,300 allowance for damaged goods that Prentise agreed to kee 5. Collected partial payment of $83.500 cash from accounts receivable Required o. Record the events in a statements model b. Prep c. Why would Prentise agree to keep the damaged goods? are an income statement, a balance sheet, and a statement of cash flows. Answer is not complete. Complete this question by entering your answers in the tabs below Req A Req B1 Req B2 Req B3 the events in a statements model shown below. (Enter any decreases to account balances and cash outflows with a minus sign. In to designate operating activity, IA for investing activity, FA for finanding activity, and NA for no affect.) POWELL COMPANY
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