Are there any choices or no??
Banking, Because how you deposit and withdraw will help you externally
Answer:
<u><em>Ending Inventory:</em></u> <em>21,267.70</em>
Explanation:
cost retail
beginning 12,700 20,900
purchases 113,930 158,500
markups 9,600
markdowns (7,400)
total 126,630 181,600
inventory to retail ratio: 126,630 / 181,600 = 0.6973
sales revenues 151,100
COGS: 151,100 x 0.6973 = 105,362.30
<u><em>Ending Inventory:</em></u> 126,630 - 105,362.30 = <em>21,267.70</em>
Answer:
The journal entries are shown below:
Explanation:
According to the scenario, the journal entries for the given data are as follows:
(1). Jun.30 Bad Debt expense A/c Dr $12,800
To Allowance for Doubtful A/c $12,800
(Being the bad debt expense is recorded)
(2). July Allowance for Doubtful A/c Dr $6,400
To Accounts Receivable A/c $6,400
(Being the customer balance written off is recorded)