Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 6, tarjee limited sold merchandise on a

On January 6, Tarjee Limited sold merchandise on account to Singh Inc. for $45,200, terms...

80.2K

Verified Solution

Question

Accounting

On January 6, Tarjee Limited sold merchandise on account to Singh Inc. for $45,200, terms n/30. The merchandise originally cost Tarjee $28,800. On January 25, Singh paid the amount due. Both Tarjee and Singh use a perpetual inventory system

Prepare the entries on Singhs books to record the purchase and related payment. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 6Jan. 25

Jan. 6Jan. 25

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Physics
1.2K views

29 Iron in nature exists in three isotopic forms Fe54 Fe56 Fe57 The percentage abundance...

Finance
1.2K views

Consider the following two bond issues. Bond M: 4% 30-year bond Bond N: 6% 30-year bond Neither bond...

Biology
1.2K views

Which means almost the same as convincing terrible believable bold

Basic Math
1.2K views

Identify any bridges in the graph or say there are none A B C D...

Accounting
1.2K views

The balance sheets of Terry Ukov, sole trader, showed the following. 30 June 2015 2016...

Accounting
1.2K views

Maintenance expenses of a company are to be analyzed for purposes of constructing a flexible...

Accounting
1.2K views

help please! Sheridan Company bottles and distributes B-Lite, a...

Accounting
1.2K views

Question 6 (10 points) 6.1 (4 points) Define a concept of a tax on economic...

Accounting
1.2K views

Carlos danger's service shop started the year with total assets of $3400000, total liabilities of...

Accounting
1.2K views

Calculate the assessed value (in $) and the property tax due (in $) on the...

Accounting
1.2K views

Seasoned secondary offerings occur in the secondary market. True False

Finance
1.2K views

Assume Gillette Corporation will pay an annual dividend of $0.61 one year from now. Analysts...