PLEASE HELP ME ANSWER

Question 7 (5 points)

Marcel's Fashions started with $7,000 in Inventory and had the following transaction totals for the month of April:

Sales $20,000

Sales Returns and Allowances 2,000

Cost of Goods Sold 8,000

Purchases ???

Freight 1,000

Purchases Returns and Allow. 2,000

Purchases Discounts 1,500

If ending Inventory for the period is $14,000, what is the total amount of purchases during the month?

Question 7 options:

	$15,500
	$17,500
	$18,500
	$16,500

Question 8 (1 point)

Purchased office supplies on account. This will be recorded with

Question 8 options:

	a debit to Supplies and a credit to Supplies Expense.
	a debit to Supplies and a credit to Accounts Payable.
	a debit to Accounts Payable and a credit to Supplies.
	a credit to Supplies and a debit to Purchases.

Previous PageNext Page

Question 9 (5 points)

Jackie's Online Service started with $7,000 in Inventory and had the following transaction totals for the month:

Sales $20,000

Sales Returns and Allowances 2,000

Cost of Goods Sold 8,000

Purchases 14,000

Freight 1,000

Purchases Returns and Allow. 2,000

Purchases Discounts 1,400

Ending Inventory for the period is :-

Question 9 options:

	$10,600.
	$12,600.
	$9,600.
	$14,000.