On December 1, 2020, Bonita Company had the following account balances. During December, the company...
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Accounting
On December 1, 2020, Bonita Company had the following account balances. During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased merchandise on account from Vance Co. $11,000, terms 1/10, n/30. 17 Sold merchandise on account $16,300, terms 2/10,n/30. The cost of the merchandise sold was $9,200. 19 Paid salaries $2,200. 22 Paid Vance Co. in full, less discount. 26 Received collections in full, less discounts, from customers billed on December 17. 31 Received \$2,800 cash from customers in payment of account (no discount allowed). Adjustment data: 31 Received $2,800 cash from customers in payment of account (no discount allowed). Adjustment data: 1. Depreciation $210 per month. 2. Insurance expired $400. (a) Journalize the December transactions. (Assume a perpetual inventory system.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Journalize the vecember transactions. (ASsume a perpetual inventory system.) IC reait account tities are automaticaliy inaentea when amount is entered. Do not indent manually.) (10 record sales) (To record cost of goods sold) 4 eTextbook and Media
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