60.1K

Verified Solution

Link Copied!

The following were selected from among the transactions completed by Aish Works during December of the current year. Dec 3. Purchased merchandise on account from Tania Enterprise, list price RM24,000, trade discount 25%, term FOB shipping point, 2/10, 130, with prepaid transportation cost of RM615 added to the invoice. 5. Purchased merchandise on account from Mama Enterprise, RM10,250, terms FOB destination, 2/10,n30. 6. Sold merchandise on account to Melati Borong, list price RM18,000, trade discount 35%, terms 2/10, n30. The cost of merchandise sold was RM3,250. 7. Returned RM1,800 of merchandise purchased on 5 December from Mama Enterprise. 13. Paid Tania Enterprise on account for purchase of 3 December, less discount. 15. Paid Mama Enterprise on account for purchase of 5 December, less retum of December 7 and discount. 16. Received cash on account from sale of 6 December to Melati Borong, less discount 19. 22. Sold merchandise on MasterCard, RM39,500. The cost of the merchandise sold was RM23,700 Sold merchandise on account to LCW Resources, RM11,300, terms 2/10, 130. The cost of the merchandise sold was RM6,700. 23. Sold merchandise for cash, RM17,680. The cost of the merchandise sold was RM9.100. Received merchandise returned by LCW Resources from sale of 22 December, RM2,000. The cost of the returned merchandise was RM1,100. Paid MasterCard service fee of RM1,050. REQUIRED: Journalise the transactions. 28. 31

Answer & Explanation Solved by verified expert

See Answer