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What am I doing wrong?

ezto.mheducation.com Chapter 05 Pre-Bullt Assignment This window shows what is correct and incorrect for the work you have completed so far Even if all of the work you have done so far is correct, you may not have completed everything. 10.000 points Aug. 1 Purchased merchandise from Arotek Company for $6,800 under credit terms of 1/10, n/30, FOB destination, invoice dated August 1 5 Sold merchandise to Laird Corp. for $4,760 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $3,399. 8 Purchased merchandise from Waters Corporation for S6,100 under credit terms of 1/10, nl45, FOB shipping point, invoice dated August 8. The invoice showed that at Sheng’s request, Waters paid the $240 shipping charges and added that amount to the bill. Hint: Discounts are not applied to freight and shipping charges.) 9 Paid $180 cash for shipping charges related to the August 5 sale to Laird Corp. 10 Laird returned merchandise from the August 5 sale that had cost Sheng $566 and been sold for $793 The merchandise was restored to inventory. 12 After negotiations with Waters Corporation concerning problems with the merchandise purchased on August 8, Sheng received a credit memorandum from Waters granting a price reduction of $921 14 At Aroteks request, Sheng paid $290 cash for freight charges on the August 1 purchase, reducing the amount owed to Arotek. 15 Received balance due from Laird Corp. for the August 5 sale less the retu on August 10 m 18 Paid the amount due Waters Corporation for the August 8 purchase less the price reduction granted. 19 Sold merchandise to Tux Co. for $4,080 under credit terms of 0, nl30, FOB shipping point, invoice dated August 19. The merchandise had cost $2,832. 22 Tux requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Sheng sent Tux a $680 credit memorandum to resolve the issue. 29 Received Tux’s cash payment for the amount due from the August 19 sale. 30 Paid Arotek Company the amount due from the August 1 purchase. Prepare journal entries to record the above merchandising transactions of Sheng Company, which applies the perpetual inventory system. Answer is not complete Date General Journal Debit Credit 6.800 Aug 0 Merchandise inventory Check Your Work cancel



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