Crest view computers security uses the perpetual inventorysystem and makes all c

Question

Crest view computers security uses the perpetual inventorysystem and makes all credit sales on terms of 2/10 n /30. Crestview completed the following transactions during May. May 2- Issued inv.# 913. fro sale on account to Forbes, $2000.crestview cost of this inv. was $900         3-  Puschasedinv. on credit terms of 3/10 n/60 from Chicosky. co. $2467         5- Soldinventory for cash $ 1077( cost $480)         5 Issued ck. # 532to purchase furniture for cash $2185         8- Collectedinterest revenue of $1775         9- Issued inv. #914 fro sale on account to Bell $5550 ( cost 2310)        10-Puchased inv. forcash $1143 issing ck # 533        12-Recieved cashfrom Forbes in full settlement of her acc. recievable fromsale on May 2nd        13- Puschased supplies onacct.from Manley, $441. terms were net end of the month        15- Sold inv. onaccount to brown issuing invoice # 915 fro $665 ( cost 240)        17-Issued credit memo, toBrown for $665 for merchandise return to us by brown . Alsoaccounted             fro receipt of the inventory cost.        18- Issuedinvoice#916 for credit sale to Forbes $357 ( cost $127)        19- Recieved $5439from Bell in full settlement of its acct./recievable from May 9th.bell earned             discount by paying early        20- Purchased inv. oncredit terms of net 30 from Sims $2047        22- Puschasedfurniture on credit terms of 3/10 n/60 from Chicosky $645        22 - Issued ck# 535to pay for insurance coverage debiting prepaid insurance fro$1000        24- Sold supplies to anemployee fro cash of $54which was Crestview cost.        25- Issued ck#536 to payutilities bills $453      28- Purchased inventory oncredit terms 2/10 n/30 from Manley$675        29- Returned damagaedinv. to Manley issueing a debit memofor $675        29- Sold goods on accountto Bell issing invoice# 917 for $2900( cost $ 800)        30- Issued ck# 537 to payManley in full on account from May 13th        31- Recieved cash in fullfrom Forbes on credit sale of May 18th . There was nodiscount        31- Issued ck# 538 to paymonthly salaries of $1950 Crest view computers security uses the perpetual inventorysystem and makes all credit sales on terms of 2/10 n /30. Crestview completed the following transactions during May. May 2- Issued inv.# 913. fro sale on account to Forbes, $2000.crestview cost of this inv. was $900         3-  Puschasedinv. on credit terms of 3/10 n/60 from Chicosky. co. $2467         5- Soldinventory for cash $ 1077( cost $480)         5 Issued ck. # 532to purchase furniture for cash $2185         8- Collectedinterest revenue of $1775         9- Issued inv. #914 fro sale on account to Bell $5550 ( cost 2310)        10-Puchased inv. forcash $1143 issing ck # 533        12-Recieved cashfrom Forbes in full settlement of her acc. recievable fromsale on May 2nd        13- Puschased supplies onacct.from Manley, $441. terms were net end of the month        15- Sold inv. onaccount to brown issuing invoice # 915 fro $665 ( cost 240)        17-Issued credit memo, toBrown for $665 for merchandise return to us by brown . Alsoaccounted             fro receipt of the inventory cost.        18- Issuedinvoice#916 for credit sale to Forbes $357 ( cost $127)        19- Recieved $5439from Bell in full settlement of its acct./recievable from May 9th.bell earned             discount by paying early        20- Purchased inv. oncredit terms of net 30 from Sims $2047        22- Puschasedfurniture on credit terms of 3/10 n/60 from Chicosky $645        22 - Issued ck# 535to pay for insurance coverage debiting prepaid insurance fro$1000        24- Sold supplies to anemployee fro cash of $54which was Crestview cost.        25- Issued ck#536 to payutilities bills $453      28- Purchased inventory oncredit terms 2/10 n/30 from Manley$675        29- Returned damagaedinv. to Manley issueing a debit memofor $675        29- Sold goods on accountto Bell issing invoice# 917 for $2900( cost $ 800)        30- Issued ck# 537 to payManley in full on account from May 13th        31- Recieved cash in fullfrom Forbes on credit sale of May 18th . There was nodiscount        31- Issued ck# 538 to paymonthly salaries of $1950

Explanation / Answer

What would you like to do on this question ? Journal entries ? Idon't see any instruction.

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.