Solution-Create the journal entries

Create the journal entries

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Reference no: EM131794253

Prepare the journal entries

6 On December 15, Rocky Ram, Inc. made a sale in the amount of $80,000 to Poodle & Co (terms 2/10, n/30). The cost of the inventory sold was $55,000.

7 On December17, Board of Directors declared $8,200 in dividends to be paid in January

8 On December 20, the company paid employees $31,000 for wages earned during the period from December 1 through December 15, 2015

9 On December 25, received full payment from Poodle & Co. for sale made December 15(J6) within the discount period.

10 On December 25, Rocky Ram, Inc. made a sale in the amount of $140,000 to Bulldog Inc. (terms 2/10, n/30). The cost of the inventory sold was $90,000.

Reference no: EM131794253

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Create the journal entries

Reference no: EM131794253

Reference no: EM131794253

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