Feb. 10 Purchased merchandise for $6,800 from Schmidt, Inc., Invoice 1980, terms 1/10, n/30. 13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $380 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schmidt, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Schmidt, Inc. DATE TRANSACTIONS 20X1 Feb. 10 Sold merchandise for $6,800 on account to Bushard Company, Invoice 1980, terms 1/10, n/30. The cost of merchandise sold was $3,900. 13 Issued Credit Memorandum 230 to Bushard Company for damaged merchandise totaling $380 that was returned; the goods were purchased on Invoice 1980, dated February 10. The cost of the returned goods was $300. 19 Received payment from Bushard Company for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. equired: oth companies use the perpetual inventory system. Journalize the transactions above in a general journal for both Bushard Company nd Schmidt, Inc. (Round final answers to the nearest whole dollar value.)

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Chapter1: Financial Statements And Business Decisions
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Feb. 10 Purchased merchandise for $6,800 from Schmidt, Inc., Invoice 1980, terms 1/10, n/30.
13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $380 that was returned; the goods were
purchased on Invoice 1980, dated February 10.
19 Paid amount due to Schmidt, Inc., for Invoice 1980 of February 10, less the return of February 13 and 1less the cash
discount, Check 2010.
Schmidt, Inc.
DATE
TRANSACTIONS
20X1
Feb. 10 Sold merchandise for $6, 800 on account to Bushard Company, Invoice 1980, terms 1/10, n/30. The cost of merchandise sold was
$3,900.
13 Issued Credit Memorandum 230 to Bushard Company for damaged merchandise totaling $380 that was returned; the goods were
purchased on Invoice 1980, dated February 10. The cost of the returned goods was $300.
19 Received payment from Bushard Company for Invoice 1980 of February 10, less the return of February 13 and less the cash
discount, Check 2010.
Required:
Both companies use the perpetual inventory system. Journalize the transactions above in a general journal for both Bushard Company
and Schmidt, Inc. (Round final answers to the nearest whole dollar value.)
Complete this question by entering your answers in the tabs below.
Bushard
Company
Schmidt Inc
Journalize the transactions above in a general journal for Bushard Company.
Transcribed Image Text:omework X ezto.mheducation.com/ext/map/index.html?_con3con&external_browser3D0&launchUrl=https%253A%252F%252Ffaytechcc.blackboard.co... Q - User Management,... https://outlook.off.. FES Protection Plan System 7 - North C... work Exercises Saved Feb. 10 Purchased merchandise for $6,800 from Schmidt, Inc., Invoice 1980, terms 1/10, n/30. 13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $380 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schmidt, Inc., for Invoice 1980 of February 10, less the return of February 13 and 1less the cash discount, Check 2010. Schmidt, Inc. DATE TRANSACTIONS 20X1 Feb. 10 Sold merchandise for $6, 800 on account to Bushard Company, Invoice 1980, terms 1/10, n/30. The cost of merchandise sold was $3,900. 13 Issued Credit Memorandum 230 to Bushard Company for damaged merchandise totaling $380 that was returned; the goods were purchased on Invoice 1980, dated February 10. The cost of the returned goods was $300. 19 Received payment from Bushard Company for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Required: Both companies use the perpetual inventory system. Journalize the transactions above in a general journal for both Bushard Company and Schmidt, Inc. (Round final answers to the nearest whole dollar value.) Complete this question by entering your answers in the tabs below. Bushard Company Schmidt Inc Journalize the transactions above in a general journal for Bushard Company.
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