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Question - On July 3, 2019, Quikk-Mart received a shipment of T-shirts from Killers and Kings Clothing for an event. The invoice amounted to $9,440 and was recorded in the accounting system as an amount owing. Soon after the delivery was made, the marketing manager discovered that the logo was printed incorrectly. The goods were returned to Killers and Kings Clothing on July 22. The company uses a perpetual inventory system. Prepare the journal entry to record the return for Quikk-Mart on July 22. Account tile, Debit and Credit should be include?
NWA's Financial Statements contain the following information: Cash $300,000 Accounts Payable $500,000 Accounts Receivable $650,000 Accrued Expenses $150,000 Inventory $800,000 Long Term Debt $1,000,000 Marketable Securities $100,000 Required:
High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing $1.55 per pound were used in making 4,800 wind chimes. What is the (1) ma..
On September 1, 2020, Bramble Company sold at 104 (plus accrued interest) 4,560 of its 9%, Prepare in general journal format entry to record issuance
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