| LG 20-2. | ||
| a. |
| Date | Account | Ref. | Dr. | Cr. |
| Oct.
3 | Purchases | 11,000 | ||
| Accounts Payable | 11,000 | |||
| 5 | Purchases | 2,700 | ||
| Accounts Payable | 2,700 | |||
| 9 | Purchases | 6,500 | ||
| Freight-in |
220 | |||
| Accounts Payable | 6,720 | |||
| 10 | Accounts Payable | 2,000 | ||
| Purchase Returns and Allowances | 2,000 | |||
| 12 | Purchases | 15,000 | ||
| Freight-in |
125 | |||
| Accounts Payable | 15,000 | |||
| Cash |
125 | |||
| 13 | Accounts Payable | 3,608 | ||
| Purchase Discounts | 108 | |||
| Cash |
3,500 | |||
| 19 | Accounts Payable | 6,720 | ||
| Purchase Discounts |
|
65 | ||
| Cash | 6,655 | |||
| 20 | Purchases | 10,000 | ||
| Accounts Payable | 10,000 | |||
| 22 | Accounts Payable | 7,500 | ||
| Purchase Discounts |
|
150 | ||
| Cash | 7,350 | |||
Learning
Goal 20, continued
SOLUTIONS
|
Learning
Goal 20: Explain and Use the Periodic Inventory Method |
S3 |
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