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PA1. Prepare journal entries for the following transactions from Barrels Warehouse. Jul. 1...

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Accounting

PA1. Prepare journal entries for the following transactions from Barrels Warehouse.
Jul. 1 Sold 2,000 barrels with a sales price of $30 per barrel to customer Luck's
Vineyards. Luck's Vineyards paid with cash. The cost for this sale is $18 per barrel.
Jul. 3 Sold 1,200 barrels with a sales price of $32 per barrel to customer Paramount
Apparel. Paramount paid using its in-house credit account. Terms of the sale are 310,
n30. The cost for this sale is $17 per barrel.
Jul. 5 Sold 1,400 barrels with a sales price of $31 per barrel to customer Melody
Sharehouse. Melody paid using her MoneyPlus credit card. The cost for this sale is $18
per barrel. MoneyPlus Credit Card Company charges Barrels Warehouse a 2% usage
fee based on the total sale per transaction.
Jul. 8 MoneyPlus Credit Card Company made a cash payment in full to Barrels
Warehouse for the transaction from July 5, less any usage fees.
Jul. 13Paramount Apparel paid its account in full with a cash payment, less any
discounts.
PA4. Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts
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