Make the corresponding wage entries to report short-term liabilities. Make the entries to the journal. Journalizes the
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date | Transaction |
2 February | Merchandise was purchased on credit for $ 310,000 with a term of n / 45 in Pueblo Caribe. |
4 march | Aires Caribe provided Pueblo Caribe with a 5% note for $ 120,000 with a 30-day credit term. |
6 May | Pueblo Caribe paid the amount of the March 4 note. |
10 May | Consoles were purchased from Air Wholesale for $ 75,000 on a 90-day note at a 4% discount. With monthly payments of 25,000. |
12 June | A 30-day loan (short-term note / note payable) with 3% for $ 240,000 was requested from Banco del Pueblo. |
15 June | The overdue amount of the May 10 transaction was paid. A customer bought $ 2,000 worth of merchandise for cash. |
18 July | The customer who purchased merchandise on the 15th returned $ 500 worth of merchandise because it was defective. A customer made a purchase for $ 3,500 with a term of 3/40 n / 60 |
20 august | The customer who made the purchase on July 18 paid in full with the corresponding discount. |
30 September | The overdue amount of the Banco del Pueblo note dated June 12 was paid. |
30 September | The overdue amount of the transaction of May 10 was paid. |
4 November | Tools were purchased at Home Depot for $ 75,000. $ 12,000 was paid and the remainder was divided into series of ten into 3% notes of $ 6,300 each maturing at 45-day intervals. |
4 December | The first of the notes they took on November 4 was paid to Home Depot. |
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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