Question: please answer accordingly Ample Products Inc. was incorporated on April 1, 2011 operate a merchandising business. All its sales on account are made according to
Ample Products Inc. was incorporated on April 1, 2011 operate a merchandising business. All its sales on account are made according to the following terms: 2/10,n30. It transactions during April 2011 were: Apt. 1 Issued share capital for $3.000 cash and inventory of 54.000 to Ross Ample, the nonperator and sale shareholder of the corporation 1 Purchased $4.000 of merchandise on count from Springfield Wholesalers Inc. for terms 2/10, 130 I Sold 53.000 of merchandise on account to Authentic Products Corp 2 Collected $500 for a cash sale made today to Gopes Pierre Lad 2 Purchased $750 merchandise on account from White Whale Wholesalers Ltd. for terms 1.30 2 Sold S1,200 of merchandise on account to Champagne Stores Inc Received half the amount due from Authentic Products Corp. for the Apeil purchase les discount on payment Received the amount dee from Champagne Stores Inc. for the April 2 purchase (less discount) 9 l'ard Springfield Wholesalers Inc. for the April 1 purchase (less discount on payment) 10 Purchased $2.000 of merchandise on account from Ritz Distributors Inc. for forms2/15, 1:30 11 Sold 5500 of merchandise on accetto Premier Sales Inc. 12 Premier Sales Inc. returned $100 of merchand adjusted the records accordingly 15 Received a notification from White Whale Wholesalers Ltd that $150 of defective merchandise included in the April 2 purchase and subsequently returned will not need to be paid 15 Purchased $1,500 of merchandise on account Breakwater Distributors Inc for terms 2/10, 10 19 Purchased $1.250 of merchandise on account from Brown Gull Sales Ltd. for terms 2.30 20 Sold $2,000 of merchandise on account to Sala Corp 20 Received the amount dee from Premier Sales Inc. for the April 1l purchase (less return and less discount) 22 Paid Ritz Distributors Inc. for the April 10 purchase (less discount on payment) 24 Paid Breakwater Distributors Inc. for the April 15 purchase (less discount on payment) 27 Sold 5800 of merchandise on account to Rock Emporium Corp 30 Paid Rapide Delivery Inc. $200 for deliveries made to customers during the mouth 30 Paid Fast Forwarders Lid $500 for transportation to the warehouse during the month. All purchases we fol shipping point Ending Inventory S1.500 Required Prepare joamal entries to record the April transactions
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