Question: Presented here are selected transactions for the Ivanhoe Company during April. Ivanhoe uses the perpetual inventory system. April 1 2 Sold merchandise to Mann Company
Presented here are selected transactions for the Ivanhoe Company during April. Ivanhoe uses the perpetual inventory system. April 1 2 Sold merchandise to Mann Company for $6,100, terms 2/10, n/30. The merchandise sold had a cost of $2,900. Purchased merchandise from Wild Corporation for $8,900, terms 1/10, n/30. 4 Purchased merchandise from Ryan Company for $1,000, n/30. 10 Received payment from Mann Company for purchase of April 1 less appropriate discount. 11 Paid Wild Corporation for April 2 purchase. Journalize the April transactions for Ivanhoe Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation > (To record credit sale) (To record cost of good sold) Debit Credit
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