HELP ASAP! Journalize the following merchandise transactions. The company uses the perpetual inventory system. Question...
60.1K
Verified Solution
Link Copied!
Question
Accounting
HELP ASAP! Journalize the following merchandise transactions. The company uses the perpetual inventory system.
Question Content Area
a. Sold merchandise on account, $14,600, with terms n/30. The cost of the merchandise sold was $9,490. If an amount box does not require an entry, leave it blank.
| blank | Account | Debit | Credit |
|---|---|---|---|
| blank | Accounts PayableAccounts ReceivableCashSalesSales Discounts | ||
| Accounts ReceivableCashCost of Goods SoldSalesSales Discounts | |||
| blank | Accounts PayableCashCost of Goods SoldInventorySales Discounts | ||
| Accounts PayableCashCost of Goods SoldInventorySales Discounts |
Question Content Area
b. Received payment. If an amount box does not require an entry, leave it blank.
| blank | Account | Debit | Credit |
|---|---|---|---|
| blank | Accounts ReceivableCashCost of Goods SoldInventorySales | ||
| Accounts ReceivableCashCost of Goods SoldInventorySales |
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.