Home / Questions / Take me to the text Bedding for More received a shipment of bed sheets on June 4 2018 The ...
Take me to the text Bedding for More received a shipment of bed sheets on June 4, 2018. The value of the bed sheets was $15,000 and the sheets were shipped FOB shipping point. Freight charges came to- $200. This company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Required a) Prepare the journal entry to record the receipt of goods by Bedding for More, assuming the payment will be made in July. Date Account Title and Explanation Debit Credit 2018 Merchandise Inventory 15200 Jun 4 Advertising Expense 15200 Purchased inventory b) The bed sheets delievered to Bedding for More were the wrong material. After some negotiation, the manager agreed to keep the products with a 11% allownace . Prepare the joumal entry on June 19, 2018 to record the purchase allowance. Assume that all bed sheets are still in inventory. Allowances are not granted on freight charges. Date Account Title and Explanation Debit Credit 2018 X Jun 19 Interest Revenue Purchase Aowance c) Prepare the journal entry for Bedding for More when the payment is made on July 4 2018. Date Account Title and Explanation Debit Credit 2018 Jul 4 Payment for bed sheets
Mar 02 2020 View more View Less
What attachment pattern did Timmy display when Vanessa picked him up from child care, and what factors probably contributed to it? >
May 21 2020A five-year project has an initial fixed asset investment of $310,000, an initial NWC investment of $30,000, and an annual OCF of â$29,000. The fixed asset is fully dep...
May 23 2021Suppose that Congress passes a law requiring employers to provide employees some benefit (such as healthcare) that raises the cost of an employee by $4 per hour.b. If emp...
Jul 16 2021On June 15, 2013, Ideal Furniture discarded equipment that had a cost of $ 10,000 and was fully depreciated. Journalize the disposal of the equipment.
Mar 31 20201. The difference between the upper specification and the lower specification for a process is 0.6". The standard deviation is 0.1". What is the process capability ratio,...
Jul 29 2020Jiminy's Cricket Farm issued a 30-year, 7 percent semi-annual bond 4 years ago. The bond currently sells for 86 percent of its face value. The book value of the debt issu...
Jun 05 2021What factor does not contribute to the rapid loss of nutrients from terrestrial ecosystems? (A) Clear-cutting native forest (B) Early seral stages (C) Climax commun...
Mar 20 2018CONCEPT CHECKStokes’s Theorem Explain the benefit of Stokes’s Theorem when the boundary of the surface is a piecewise curve.
Aug 09 2021Every chapter provides an editing exercise to fine-tune your grammar and mechanics skills. The following executive summary requires edits that address spelling, grammar, ...
Aug 22 2021Which of the following statements is most likely to be true about two species? (A) They occupy different niches (B) They can never hybridize (C) They will intergrad...
Mar 19 2018