60.1K

Verified Solution

Link Copied!

Purchase-related transactions Instructions Chart of Accounts Journal Journal Instructions S edes have feedback Warwick's Co., a women's clothing store purchased $75,000 of merchandise from a supplier on account, terms F08 destination 2010, 30, Warwick's returned $9,000 of the merchandise, receiving a credit memo Journalize Warwick's entries to record (a) the purchase. (b) the merchandise return, and (c) the payment within the discount period of ten days, and payment beyond the discou period of ten days. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions Previous eck My Work ournal Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 610 Rent Revenue 120 Accounts Receivable 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 180 Land 192 Store Fouinment Chart of Accounts 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 710 Interest Expense 219 Customer Refunds Payable

Answer & Explanation Solved by verified expert

See Answer