Bill Blumberg owns an auto parts business called bill's auto parts. the following transactions took place during july of the current year. july 5 purchased merchandise on account from Wheeler Warehouse, $4,300 july 8 paid freight charge on merchandise purchased, $230 july 12 sold merchandise on account to Big Time Spoiler, $3,500. the merchandise cost $2,500 july 15 received a credit memo from wheeler warehouse for merchandise $670 july 22 issued a credit memo to big time spoiler from merchandise returned $820. the cost of the merchandise is $550 1. JOURNALIZE THE ABOVE TRANSACTION IN A GENERAL JOURNAL USING THE PERPETUAL INVENTORY METHOD
Bill Blumberg owns an auto parts business called bill's auto parts. the following transactions took place during july of the current year. july 5 purchased merchandise on account from Wheeler Warehouse, $4,300 july 8 paid freight charge on merchandise purchased, $230 july 12 sold merchandise on account to Big Time Spoiler, $3,500. the merchandise cost $2,500 july 15 received a credit memo from wheeler warehouse for merchandise $670 july 22 issued a credit memo to big time spoiler from merchandise returned $820. the cost of the merchandise is $550 1. JOURNALIZE THE ABOVE TRANSACTION IN A GENERAL JOURNAL USING THE PERPETUAL INVENTORY METHOD
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 4PA: The following transactions relate to Hawkins, Inc., an office store wholesaler, during June of this...
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Bill Blumberg owns an auto parts business called bill's auto parts. the following transactions took place during july of the current year.
july 5 purchased merchandise on account from Wheeler Warehouse, $4,300
july 8 paid freight charge on merchandise purchased, $230
july 12 sold merchandise on account to Big Time Spoiler, $3,500. the merchandise cost $2,500
july 15 received a credit memo from wheeler warehouse for merchandise $670
july 22 issued a credit memo to big time spoiler from merchandise returned $820. the cost of the merchandise is $550
1. JOURNALIZE THE ABOVE TRANSACTION IN A GENERAL JOURNAL USING THE PERPETUAL INVENTORY METHOD
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