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Recording purchases, returns, and discounts taken (above is 1/3).

Above is the same thing just a different problem 1 through 7

QS 5-5 Recording purchases, returns, and discounts taken LO P1 Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Nov. 5 Purchased 500 units of product at a cost of $10 per unit. Terms of the sale are 2/10, n/60; the invoice is dated November 5. Nov. 7 Returned 25 defective units from the November 5 purchase and received full credit. Nov. 15 Paid the amount due from the November 5 purchase, less the return on November 7 View transaction list Journal entry worksheet 2 3 Purchased 600 units of product at a cost of $10 per unit. Terms of the sale are 2/10, n/60; the invoice is dated November 5. Note: Enter debits before credits Date General Journal Debit Credit Nov 05 1 4 in Next > Inbox (104) - jacobrosser035@gm... Qulz 2 - [email protected]... Adam Smith an Saved 5 Purchased 600 units of product at a cost of $10 per unit. Terms of the November 5. 7 Returned 25 defective units from the November 5 purchase and received ! . 15 Paid the amount due from the November 5 purchase, less the return on NG View transaction list Journal entry worksheet 1 | 2 Returned 25 defective units from the November 5 purchase and received credit. Note: Enter debits before credits. Date Nov 07 General Journal Debit Credit Record entry Clear entry View general Journal Inbox (104) - Jacobrosser035@gm... Quiz 2 - [email protected]... Adam Smith and Saved 5 Purchased 600 units of product at a cost of $10 per unit. Terms of the November 5. 7 Returned 25 defective units from the November 5 purchase and received t 15 Paid the amount due from the November 5 purchase, less the return on No Tiew transaction list Journal entry worksheet Paid the amount due from the November 5 purchase, less the return on November 7. Note: Enter debits before credits. General Journal Debit Credit Date Nov 15 Record entry Clear entry View general Journal Saved 2 5-8 Recording sales, returns, and discounts taken LUP2 Prepare journal entries to record each of the following sales transactions of a mere inventory system and the gross method. Apr. 1 Sold merchandise for $3,000, with credit terms n/30; invoice dated $1,800. Apr. 4 The customer in the April 1 sale returned $300 of merchandise for $180, is returned to inventory. Apr. 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30; invoi $700. Apr. 11 Received payment for the amount due from the April 1 sale less the View transaction list Journal entry worksheet The cost of the merchandise is Note: Enter debits before credits Date Apr 01 General Journal Debit Credit Inbox (104) - Jacobrosser035@gm... Quiz 2 - rosser [email protected]... Adam Smith and Saved . 5-8 Recording sales, returns, and discounts taken LUP2 pare journal entries to record each of the following sales transactions of a merchandi entory system and the gross method. . 1 Sold merchandise for $3,000, with credit terms n/30; invoice dated Apri $1,800. . 4 The customer in the April 1 sale returned $300 of merchandise for full $180, is returned to inventory. r. 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30; invoice de $700. r. 11 Received payment for the amount due from the April 1 sale less the retur View transaction list Journal entry worksheet The customer in the April 1 sale returned ea s300 of merchandise for full credit. Note: Enter debits before credits 18 Date Apr 04 General Journal - Debit Credit 25 5-8 Recording sales, returns, and discounts taken LU PZ Prepare journal entries to record each of the following sales transactions of a merch nventory system and the gross method. Apr. 1 Sold merchandise for $3,000, with credit terms n/30; invoice dated $1,800. Apr. 4 The customer in the April 1 sale returned $300 of merchandise for fu $180, is returned to inventory. Apr. 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30; invoic $700. Apr. 11 Received payment for the amount due from the April 1 sale less the View transaction list Journal entry worksheet Sold merchandise for $1,000, with credit terms of 1/10, n/30. Note: Enter debits before credits Date General Journal Debit Credit Apr 08 1

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