| LG | 22-3. See the table on page 468 for the solution. | |
| ||||
| LG | 22-4. | |
| Buyer Company |
| June
11 | Merchandise
Inventory |
15,000 | ||
| | Accounts Payable |
15,000 | ||
| | ||||
| 12 |
Merchandise Inventory |
9,200 | ||
| | Accounts Payable |
9,200 | ||
| | ||||
| 15 |
Accounts Payable |
5,000 | ||
| | Merchandise Inventory |
5,000 | ||
| | ||||
| 17 | Merchandise Inventory |
5,000 | ||
| | Accounts Payable |
5,000 | ||
| | ||||
| 20 |
Accounts Payable |
10,000 | ||
| | Merchandise Inventory |
200 | ||
| | Cash |
9,800 | ||
| |
($10,000 ×
.98 = $9,800) | |||
| | ||||
| 22 | Accounts Payable |
9,200 | ||
| | Merchandise Inventory |
90 | ||
|
Cash |
9,110 | |||
|
($9,000 ×
.99) + $200 = $9,110 | ||||
|
| ||||
|
27 |
Accounts Payable |
4,000 | ||
|
Merchandise
Inventory |
80 | |||
|
Cash |
3,920 | |||
|
($3,920/.98
= $4,000 invoice amount) | ||||
|
| ||||
| 29 |
Merchandise Inventory |
150 | ||
| |
Cash |
150 | ||
| |
|
Learning
Goal 22, continued
SOLUTIONS
| S2 | Section III
· Merchandising Operations | |
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