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3 years ago

The Marchetti Soup Company entered into the following transactions during the month of June:_________.

Business

1 answer:

Delvig [45]3 years ago

8 0

Answer: Please find answers in the explanation column

Explanation:

a.) journal entry to record purchase of inventory on account by the company

Date Accounts Debit Credit

June Inventory $245,000

Accounts payable $245,000

b.) journal entry to record for the payment of salaries to the employees

Date Accounts Debit Credit

June Salaries and wages expenses $60,000

Cash $60,000

c1.) journal entry to record the sale of merchandise to customers

Date Accounts Debit Credit

June Cash $300,000

Sales Revenue $300,000

c2.) journal entry to record the cost involved in the sale of merchandise to customers

Date Accounts Debit Credit

June Cost of goods sold $160,000

inventory $160,000

d.) journal entry to record the cash collected from the customers

Date Accounts Debit Credit

June Cash $280,000

Account receivable $280,000

e.) journal entry to record the payment of cash to the suppliers of inventory

Date Accounts Debit Credit

June Account payable $225,000

Cash $225,000

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Data and Calculations:

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Misaki, a sales manager at a startup cosmetics company, wants to determine her company’s market potential. She first develops a

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The correct answer is:

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2 years ago

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