Reference no: EM131765905
Journal for these please
1. Ordered the following inventory on account from velocity Sporting Goods.
| Units |
Description |
Cost |
Selling Price |
| 120 |
basketball pole pad |
94 |
135 |
| 80 |
basketball bag |
26 |
40 |
| 30 |
Portable inflation pump |
69 |
107 |
| 75 |
Trainer's first aid kit |
30 |
42 |
2. Received merchandise from Velocity Sporting Goods as listed on purchase in No.1. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 76 basketball pole pads were received. The goods were placed immediately in the inventory warehouse.
3. Received vendor invoice ($17680) from Velocity sporting Goods for goods ordered No 1 and No2.
4. Issued check to interstate Motor Freight for the amount of the freight bill $(346.75) for the Velocity Sporting Goods shipment received in No 2.
5. Received office supplies from Chicago Office Supply as listed purchase order ($568.50), which is being held in accounting. Chicago Office Supply's vendor invoice #18 ($602.61) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid.
6. Issued check to Velocity Sporting Goods for payment in full for goods received in No 2.
7. Received the tablets ordered on Waren's purchase order ($349 each, 10 units). The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value.
8. Received vendor invoice ($1470) from University News for advertisements Waren ran during the Christmas season and immediately issued a check for payment in full.
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