Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Record the following transactions of Fronke’s Fashions in a general journal: DATE TRANSACTIONS 2019 April 1 Purchased merchandise for cash, $2,310. 2 Returned merchandise for cash purchased on April 1; received a cash refund of $218. 4 Purchased merchandise on credit from Breit Distributors, Invoice 125, $871, terms n/30; freight of $46 prepaid by Breit Distributors and added to the invoice. 7 Returned damaged merchandise purchased on April 4 from Breit Distributors; received Credit Memorandum 202 for $58. 30 Paid the amount due to Breit Distributors for the purchase of April 4, less the return on April 7, Check 1458.

Sagot :

anthougo

Answer:

Fronke's Fashions

General Journal

Date      Transactions      Debit     Credit

April 1:   Inventory             $2,310

Cash                                               $2,310

To record the purchase of inventory for cash.

April 2: Cash                        $218

Inventory                                           $218

To record the return of inventory with a cash refund.

April 4: Inventory                 $871

Accounts payable (Breit Distributors) $871

To record the purchase of goods on account, terms n/30.

April 7: Accounts payable

(Breit Distributors)              $58

Inventory                                              $58

To record the return of goods on account.

April 30: Accounts payable

(Breit Distributors)             $813

Cash                                                   $813

To record the payment on account.

Explanation:

a) Data and Analysis:

April 1: Inventory $2,310 Cash $2,310

April 2: Cash $218 Inventory $218

April 4: Inventory $871 Accounts payable (Breit Distributors) $871, terms n/30

April 7: Accounts payable (Breit Distributors) $58 Inventory $58

April 30: Accounts payable (Breit Distributors) $813 Cash $813

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.