There\'s 3 boxes for April 10 and April 11. Exercise 235 Presented here are sele

Question

There's 3 boxes for April 10 and April 11.

Exercise 235 Presented here are selected transactions for the Foyle Company during April. Foyle uses the periodic inventory system. April 1 Sold merchandise to Land Company for $4,000, terms 2/10, n/30. The merchandise sold had a cost of $2,000. 2 Purchased merchandise from Webb Corporation for $6,000, terms 1/10, n/30. 4 Purchased merchandise from Ryan Company for $2,000, n/30. 10 Received payment from Land Company for purchase of April 1 less appropriate discount. 11 Paid Webb Corporation for April 2 purchase. Journalize the April transactions for Foyle Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 1 10

Explanation / Answer

Journal entries :'

Date accounts & explanation debit credit Apr 1 Account recevable (Land company) a/c 4000 Sales revenue a/c 4000 (To record sales revenue) Apr 2 Purchase a/c 6000 Account payable (webb corporation) a/c 6000 (To record purchase) Apr 4 Purchase a/c 2000    Account payable (Ryan company) a/c 2000 (To record purchase) Apr 10 Cash a/c 3920 Sales Discount a/c 80 Account recevable (Land company) a/c 4000 (To record received payment) Apr 11 Account payable (webb corporation) a/c 6000 Cash a/c 5940 Purchase discount 60 (To record amount paid)

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

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