Question 1: Copple Hardware Store completed the following merchandise transactions in the month of May,...
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Question 1: Copple Hardware Store completed the following merchandise transactions in the month of May, Copple using periodic inventory system. May 1 Purchase 300 PCs on account $1,200 each from Sameer Trading, terms 2/10, n/30. 2 Received credit note $2,400 for PCs purchased on May 1. 3 Sold 25 PCs on account $1,500 to Smart System, terms 1/10, n/30. 8 Received Collections in full from Smart System. 9 Paid Sameer Trading the balance due 10 Sold 15 PCs on account $1500 each to Net Soft Co. terms 1/10, n/30. 13 Granted credit note to Net Soft Co. for 1 PC returned $1500. 18 Received collections in full from Net Soft. Instructions: Journalize the September transactions for Copple Hardware Store.
Question 1: Copple Hardware Store completed the following merchandise transactions in the month of May, Copple using periodic inventory system.
May 1 Purchase 300 PCs on account $1,200 each from Sameer Trading, terms 2/10,
n/30.
2 Received credit note $2,400 for PCs purchased on May 1.
3 Sold 25 PCs on account $1,500 to Smart System, terms 1/10, n/30.
8 Received Collections in full from Smart System.
9 Paid Sameer Trading the balance due
10 Sold 15 PCs on account $1500 each to Net Soft Co. terms 1/10, n/30.
13 Granted credit note to Net Soft Co. for 1 PC returned $1500.
18 Received collections in full from Net Soft.
Instructions: Journalize the September transactions for Copple
Hardware Store.
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