Record journal entries for the following sales transactions of Flower Company. Oct. 12 Sold 27 bushels of flowers to a customer for $1,200 cash; cost of sale $630. Oct. 21 Sold 60 bushels of flowers for $20 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $6 to Flower Company. Oct. 31 Received payment in full from the October 21 sale. If an amount box does not require an entry, leave it blank. Assume theperpetual inventory system is used.

Record journal entries for the following sales transactions of Flower Company. Oct. 12 Sold 27 bushels of flowers to a customer for $1,200 cash; cost of sale $630. Oct. 21 Sold 60 bushels of flowers...

Record journal entries for the following sales transactions of Flower Company.

Oct. 12	Sold 27 bushels of flowers to a customer for $1,200 cash; cost of sale $630.
Oct. 21	Sold 60 bushels of flowers for $20 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $6 to Flower Company.
Oct. 31	Received payment in full from the October 21 sale.

If an amount box does not require an entry, leave it blank. Assume theperpetual inventory system is used.

Jun 02, 2022

SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

Kelly enjoys playing guitar and plays in a band. Kellys band has developed a localfollowing. This year, his gross revenues were $1,200 for playing shows and $700 on CDsales. He incurred the...
SolvedAug 01, 2023
Cover page Student Name: Student number: Read this firstInstructions1In each spreadsheet, enter data only in the cells highlighted in gray.2Relevant...
Feb 07, 2023
FNSTPB402 Assessment 2- Structured Activity- Establish and maintain payroll systems.Business book retailer Yabby Books Pty Ltd
Dec 06, 2022
Assignment Design a salary slip for the month of December 2021 with information given below.Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Travel allowance- 2000Insurance -...
Nov 02, 2022
In order to accurately calculate an employee's pay, it is important that payroll clearly understands the different types of employee remuneration. In your own words, list and define the four...
Oct 18, 2022
Design a salary slip for the month of December 2021 with information given below.Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Insurance - 2500Incentive- 75% target completionPf...
Sep 06, 2022
Fixed vs variable ratio- 70:30Ctc - 18LBasic- 50%Hra- 20%Da - 12%Travel allowance- 2000Insurance - 2500Incentive-75% target completionPf 12%Earned leaves - 2LOP - 4
Sep 02, 2022
CSCI262 - Spring 2022Workshop - Week 3Part 1: Passwords1. The first questions relate to passwords and entropy:(a) Is there any harm in revealing old passwords? Why or why not?(b) What is the...
Aug 25, 2022
Your organization is an chemicalsupplierwith employees in the following jurisdictions:ManitobaPrince Edward IslandYukonThe organization is planning to implement a company-wide policy with respect to...
Aug 25, 2022
design a salary slip for the month of december 2021 fixed vs variable ratio is 70:30,ctc is 18 lakh, basic is 50%, hra is 20%,da is 12 %, travel allowance is 2000, insurance is 2500 incentive is 75%,...
Aug 20, 2022

Submit New Assignment

Copy and Paste Your Assignment Here

Have files?