Dec6 delivered the 144 cases of dog food to carls pet store

Assignment Help Accounting Basics

Reference no: EM13597439

Record them to the corresponded journals and ledgers.

1. Sales Journal
2. Cash receipts journal
3. Prchase hournal
4. Cash disbursements journal
5. General journal
(cash discount term of 2/10, net 30 to all their customers)

Dec. 3 Car's Pet Store orders 14 cases of dog food. The Company orders and receives the 144 cases of dog food Iams on account. The purchase amount was 2800. (record to merchandise Inventory). ament term with Iams are net 30.

Dec. 5 The Company pays Iams for the 144 cases of dog food ordered on Dec. 3 (check 121)

Dec.6 Delivered the 144 cases of dog food to Carl's Pet Store. Billed Carl for 4500. Payments terms extended to Carl's are 2/10, net 30 for dog food. (Invoice # 1201-1). Dont's forget to record Cost of Goods Sold.

Reference no: EM13597439

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