rvices X Assignments: ACCT-203-001 mheducation.com/ext/map/index.html?.con con&external browser-0&launchUr-https%253A% Question 10-Chapter 6-Hon x mheducation.com252Fmghmiddewar 8 Homework Saved Help Sev Required information es [The following information applies to the questions displayed below] The transactions listed below are typical of those involving Amalgamated Textiles and American Fashions. Amalgamated is a wholesale merchandiser and American Fashions is a retail merchandiser. Assume all sales of merchandise from Amalgamated to American Fashions are made with terms n/60, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December 31. a Amalgamated sold merchandise to American Fashions at a selling price of $235,000. The merchandise had cost Amalgamated $177,000. b. Two days later, American Fashions returned goods that had been sold to the company at a price of $20,500 and complained to Amalgamated that some of the remaining merchandise differed from what American Fashions had ordered. Amalgamated agreed to give an allowance of $5.500 to American Fashions. The goods returned by American Fashions had cost Amalgamated $15,770. No further returns are expected. c. Just three days later, American Fashions paid Amalgamated, which settled all amounts owed. 2. Prepare the journal entries that Amalgamated Textiles would record. TIP: When using a perpetual inventory system, the seller always makes two journal entries when goods are sold. (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 21 780 60 32 # 3 64 4 W 35 00 MacBook Pro 96 220 & 7 80 88 84 61 S O O 916 LU E R T Y U 0 P Hell eztomheducation.com/ext/map/index.htm?con-con&external browser-0&launchUrl=https%253A%252F%252Fme.mheducation.com252Feghmodes nology Services X Assignments ACCT-203-001 Question 10 Chapter 6-Hox + apter 6-Homework 10 Required information 22 View transaction lat 4 S Reference Journal entry worksheet 3 4 5 Saved Record the sales on account of $235,000 to American Fashions on terms n/60. fite: Enter debits before credits Mc H Transaction a(1) 1 General Journal Debit Credit Record entry Clear entry View general journal 2 Q 72 A # E3 LLY A S 54 < Prev 10 82 of 19 Next > 85 ALY Mac Soon Pro 96 07 8: 01 9 20 41 " " & 47 E R T Y D LL F 9 HH B 6 O P Agements ACCT-203-001x Question 10-Chapter 6-He + tomheducation.com/ext/map/index.htm.con-con&external browser-05launchuri-https%253A%252F%252Fins meducation.com Chapter 6-Homework 10 Required information Part 2 of 2 14 View action Journal entry worksheet points exc 2 3 $ Record the cost of goods sold of $177,000. P Nate Enter deb Transaction 21 General Journal Deb Credit Mc Graw dentry Clear very 73 72 LLI Q W A A S N 9 $ 54 R D LL F 15 > T Y U 88 B 1 9 1 66 O G H J K 0 A ACCT-2013-001 x Question 10-Chapter 6-Hox + eztomheducation.com/ext/map/index.htm con-confexternal,browser-0&launchUrl=https% P5252Fms.education.com Chapter 6-Homework 10 Required information Part 2 of 2 14 10 m Journal entry worksheet References < 1 2 3 5 Seved Record the returns and allowances granted to American Fashions Note Enter dets before credits Transaction T Mc Graw 850 General Journal Debi Credit Record entry Clear entry " H: 27 THE 23 8 T Y U 2 6 1 O 0 F D F G H J K L Question 10-Chapter-x + eztomheducation.com/ext/map/index.htm?.con-con&external browser-0&launchurlehttps%253A%252F%252Fins.education.com Chapter 6 Homework Seve 10 Required information Put 2 of 2 View transaction t 14 Journal entry worksheet points < 1 2 3 4 Block Record the cost of goods sold adjustment to inventory. P 850 Note Enter debts before credits Mc Graw Transaction 120 1 92 General Journal Debi Credit Q W HU A 7 Clear entry 160 " 94 13 S E LLJ D > 00 8-> R T Y U LLY 0 0 85 66 1 G H J K L Wheres: ACCT 203-001 Question 10-Chapter 6-Hox + ezts.mheducation.com/ext/map/index.htm?con-condexternal browser=0&iaunchuri https%25 Chapter 6-Homework Seved 252F%252Fima.education.com 10 Required information Part 22 View action st 14 Journal entry worksheet < 1 2 5 Record the receipt of payment in full from American Fashions 07 Note: Enter debts before credits Transaction Mc Graw VOC General Journal Debit Credit 2 Clearatry 63 " 00 54 4 5 45 TO Q W E A S D " Madlock Pro 66 & 47 2 87 8 R T Y U 2 6 TT F G H J K O 0 P