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mestny [16]
3 years ago
7

Apr. 2 Purchased merchandise from Lyon Company under the following terms: $4,600 price, invoice dated April 2, credit terms of 2

/15, n/60, and FOB shipping point. 3 Paid $300 for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased merchandise from Frist Corp. under the following terms: $8,500 price, invoice dated April 18, credit terms of 2/10, n/30, and FOB destination. 21 After negotiations, received from Frist a $1,100 allowance on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the discount and allowance. Prepare journal entries to record the above transactions for a retail store. Assume a perpetual inventory system.
Business
1 answer:
ehidna [41]3 years ago
5 0

Answer:

April 2

Inventory 4,600 debit

Account Payable 4,600 credit

April 3

freight-in 300 debit

cash 300 credit

April 4

account payable 600debit

Inventory 600credit

April 17

Account Payable 4,000debit (4,600 - 600)

Discount 80debit (4000 * 2%)

Cash 3,820credit

April 18

Inventory 8,500 debit

Account Payable 8,500 credit

April 21

Account Payable 1,100debit

Allowance Inventory 1,100

April 28

Account Payable 7400debit (8,500 - 1,100)

Discount 148debit (7400 * 2%)

Cash 7252credit

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List the order number and order date for each order placed by the customer named johnson s department store. (hint: to enter an
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Answer:

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The organizations likely to benefit the most from the global reach of e-commerce are those that.
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*promote products or services that can be delivered online, inclusive of ebooks or online instructions.

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3 0
1 year ago
Elizabeth is a chef and the kitchen manager in an upscale restaurant. she is very knowledgeable in both the culinary and restaur
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Because she possesses these technical skills, Elizabeth can be considered a <u>"knowledge"</u> worker.


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3 years ago
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Answer:

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c. Discount

Explanation:

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