This information is provided by Hans Olaf Pty Ltd. It is related to. 1. Purchased inventory from
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This information is provided by Hans Olaf Pty Ltd. It is related to.
1. | Purchased inventory from R. Ward and Company for $18,000 on April 5, terms 2/7, n/30. |
2. | On April 6, he paid Freight Masters $900 in freight for inventory purchased from R. Ward and Company. |
3. | Purchased equipment for $26,000 on April 7th. |
4. | On April 8, he returned defective stock to R. Ward & Company and was given an allowance of $3,000. |
5. | On April 11, the amount due to R. Ward & Company was paid. |
Prepare journal entries to record the transactions listed above in the books of Hans Olaf Pty Ltd. Hans Olaf Pty Ltd uses a perpetual inventory system. (For multiple debit/credit entries, list the accounts in order of magnitude.)
Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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