60.1K

Verified Solution

Link Copied!

eBook

Show Me How

Print Item

Record journal entries for the following transactions of Barrera Suppliers.

A.	May 12: Sold 34 deluxe hammers at $190 each to a customer, credit terms 10/10, n/45, invoice date May 12; the deluxe hammers cost Barrera Suppliers $84 each.
B.	May 15: Customer returned 5 hammers for a full refund. The merchandise was in sellable condition at the original cost.
C.	May 20: Customer found 2 defective hammers but kept the merchandise for an allowance of $200.
D.	May 22: Customer paid their account in full with cash.

If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used.

May 12 Sale	Accounts ReceivableAccounts PayableMerchandise InventorySalesSales Returns and Allowances	- Select -	- Select -
	Accounts ReceivableAccounts PayableCashSalesSales Returns and Allowances	- Select -	- Select -
May 12 Cost of sale	Accounts PayableCost of Goods SoldCashMerchandise InventorySales Returns and Allowances	- Select -	- Select -
	Accounts ReceivableAccounts PayableCost of Goods SoldMerchandise InventorySales Returns and Allowances	- Select -	- Select -
May 15 Returns	Accounts ReceivableAccounts PayableCashSalesSales Returns and Allowances	- Select -	- Select -
	Accounts ReceivableAccounts PayableSales DiscountsSalesSales Returns and Allowances	- Select -	- Select -
May 15 Return 6 hammers	Accounts ReceivableAccounts PayableCashMerchandise InventorySales	- Select -	- Select -
	Accounts PayableCashCost of Goods SoldSales DiscountsSales	- Select -	- Select -
May 20	Accounts ReceivableAccounts PayableCashMerchandise InventorySales Returns and Allowances	- Select -	- Select -
	Accounts ReceivableAccounts PayableCashMerchandise InventorySales Returns and Allowances	- Select -	- Select -
May 22	Accounts ReceivableAccounts PayableCashMerchandise InventorySales Returns and Allowances	- Select -	- Select -
	Accounts ReceivableAccounts PayableMerchandise InventorySales DiscountsSales Returns and Allowances	- Select -	- Select -
	Accounts ReceivableAccounts PayableCashSales DiscountsSales Returns and Allowances	- Select -	- Select -

Answer & Explanation Solved by verified expert

See Answer