The following information applies to the questions displayed below DS Unlimited
ID: 2514859 • Letter: T
Question
The following information applies to the questions displayed below DS Unlimited has the following transactions during August. August 6 Purchases 68 handheld game devices on account from GameGirl, Inc., for $190 each, terms 1/10, n/60 August 7 Pays $390 to Sure Shipping for freight charges associated with the August 6 purchase August 10 Returns to GameGirl eight game devices that were defective August 14 Pays the full amount due to GameGirl. August 23 Sells 48 game devices purchased on August 6 for $210 each to customers on account. The total cost of the 48 game devices sold is $9,340.80.Explanation / Answer
Date General journal Debit Credit 6-Aug purchases (68*190) 12920 accounts payable 12,920 7-Aug Freight in 390 cash 390 10-Aug Accounts payable 1520 purchase return (8*190) 1,520 14-Aug Accounts payable (12920-1520) 11400 purchase discount (11400*1%) 114 cash 11286 23-Aug Account receivabl 10080 sales (48*210) 10080 no entry for cost of inventory sold
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