Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $5,100 and payment terms of 2/10, n/30. Alison uses the net method to record purchases. Alison should record the purchase at: Multiple Choice O $2,499. $5,100. $5,202. $4,998.
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- TB MC Qu. 8-53 (Static) Alison's dress shop buys dresses from... Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $6,000 and payment terms of 2/10, n/30. Alison uses the net method to record purchases. Alison should record the purchase at: Sof F2 Multiple Choice O O $5,940. $6,000. $6,120. $5,880. 20 F3 F4 F5 < Prev F6 10 of 16 F7 Next FB F9 4 Check my v FIG F11Dixon Menswear Shop regularly buys shirts from Colt Company. Dixon purchased shirts from Colt on May 27, and received an invoice with a list price amount of $3,600 and payment terms of 2/10, n/30. Dixon uses the net method to record purchases. Dixon should record the purchase at a. $3,430 b. $3,500 c. $3,528 d. $3,600Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an invoice with a list price amount of $6,800 and payment terms of 2/10, "/30 - Alison uses the net method to record purchases. Alison should record the purchase at: Multiple Choice $6,664. $6,936. $3,332. $6,800.
- Review the following transactions for Birdy Birdhouses and record any required journal entries. Sep. 6 Birdy Birdhouses purchases 55 birdhouses at $40 each with cash. Sep. 8 Birdy Birdhouses purchases 80 birdhouses at $45 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. Sep. 10 Birdy discovers 10 of the birdhouses are damaged from the Sept 6 purchase and returns them to the supplier for a full refund. Birdy also discovers that 10 of the birdhouses from the Sept 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $20 per birdhouse. Sep. 18 Birdy pays their account in full from the September 8 purchase, less any returns, allowances, and/or discounts.2. Review the following transactions for Birdy Birdhouses and record any required journal entries. Sep. 6 Sep. 8 Birdy Birdhouses purchases 55 birdhouses at $14 each with cash. Birdy Birdhouses purchases 80 birdhouses at $19 each on credit. Terms of the purchase are 4/10, n/30, invoice date September 8. Birdy discovers 12 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund. Birdy also discovers that 8 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $20 per birdhouse. Birdy pays their account in full from the September 8 purchase, less any returns, allowances, and/or discounts. Sep. 10 Sep. 18Review the following transactions for Birdy Birdhouses and record any required journal entries. Sep. 6 Birdy Birdhouses purchases 52 birdhouses at $50 each with cash. Sep. 8 Birdy Birdhouses purchases 90 birdhouses at $30 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. Sep. 10 Birdy discovers 10 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund. Birdy also discovers that 9 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them since the supplier granted an allowance of $100. Sep. 18 Birdy pays their account in full from the September 8 purchase, less any returns, allowances, and/or discounts. If an amount box does not require an entry, leave it blank. Assume the periodic inventory system is used. Sep.6 Sep. 8 Sep. 10 Refund Sep. 10 Allowance Sep. 18
- Review the following transactions, and prepare any necessary journal entries for Sewing Masters Inc. A. On October 3, Sewing Masters Inc. purchases 800 yards of fabric (Fabric Inventory) at $9.00 per yard from a supplier, on credit. Terms of the purchase are 1/5, n/40 from the invoice date of October 3. B. On October 8, Sewing Masters Inc. purchases 300 more yards of fabric from the same supplier at an increased price of $9.25 per yard, on credit. Terms of the purchase are 5/10, n/20 from the invoice date of October 8. C. On October 18, Sewing Masters pays cash for the amount due to the fabric supplier from the October 8 transaction. D. On October 23, Sewing Masters pays cash for the amount due to the fabric supplier from the October 3 transaction.Consider the following transaction: On February 15, Darling Dolls sells 110 dolls with a sales price of $15 per doll to Rosemary Cummings The cost to Darling Dolls is $5 per doll. Prepare a journal entry under each of the following conditions. Assume Gentry charges a 3.5% fee for each sales transaction using its card. A. Payment is made using a credit, in-house account. B. Payment is made using a Gentry credit card.Dixon Menswear Shop purchased shirts from Colt Company on May 28, 2019, and received an invoice with a list price amount of 5,000 and payment terms of 2/10, n/30. Dixon uses the net method to record purchases. Dixon should record purchases of: a. 4,000 b. 4,900 c. 5,000 d. 5,100
- 3. Review the following transactions for Birdy Birdhouses and record any required joumal entries. Birdy Birdhouses purchases 55 birdhouses at $40 each with cash Birdy Birdhouses purchases 80 birdhouses at $45 each on credit. Terms of the purchase are 2/10, n/30, invoice date September 8. Birdy discovers 10 of the birdhouses are damaged from the Sep. 6 purchase and returns them to the supplier for a full refund Birdy also discovers that 10 of the birdhouses from the Sep. 8 purchase are painted the wrong color but keeps them sınce the supplier granted an allowance of $20 per birdhouse. Віrdy pays allowances, and/or discounts. Sep. 6 Sep. 8 Sep. 10 Sep. 18 their account in full from the September 8 purchase, less any returns,1. Review the following transactions for Dish Mart and record any required journal entries. Note that all purchase transactions are with the same supplier. Nov. 5 Dish Mart purchases 26 sets of dishes for $460 per set with cash. Nov. 9 Dish Mart purchases 30 sets of dishes for $430 per set on credit. Terms of the purchase are 10/15, n/60, invoice date November 9. Nov. 13 Dish Mart discovers 5 of the dish sets are damaged from the November 9 purchase and returns them to the supplier for a full refund. Nov. 14 Dish Mart purchases 10 sets of dishes for $450 per set, on credit. Terms of the purchase are 10/10, n/60, invoice date November 14. Nov. 15 Dish Mart discovers that 2 of the dish sets from the November 14 purchase and 4 of the dish sets from the November 5 purchase are missing a few dishes but keeps them since the supplier granted an allowance of $50 per set for the November 14 dish sets and $75 per set for the November 5 dish sets. Dish Mart and the supplier have agreed to reduce…Stylon Co., a women's clothing store, purchased $21,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30, using the net method under a perpetual inventory system. Stylon returned merchandise with an invoice amount of $3,200, receiving a credit memo. a. Journalize Stylon's entry to record the purchase. If an amount box does not require an entry, leave it blank. Inventory v Accounts Payable v X Feedback b. Journalize Stylon's entry to record the merchandise return. If an amount box does not require an entry, leave it blank. Accounts Payable Inventory v Feedback c. Journalize Stylon's entry to record the payment within the discount period of 10 days. If an amount box does not require an entry, leave it blank. 88 Accounts Payable Cash v Feedback d. Journalize Stylon's entry to record the payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank. Accounts Payable v