Question

Journake the following transactions for Roger's Computer Inc. that occurred during the month of March Assume the nel method is used Record debitsrst, then credits Exclude explanations from any jumal entre A Cock the icon to view the transactions ) More info Start by joumalizing the purchase of merchandise on account Journal Entry Accounts 3 Purchased 55 600 merchando com 100 FOB whipping point. The super prepaid freight charges of $125 and added the amount to the invoice Returned and goods to the w andelved a crat randumu 1900 12 Paid for the goods purchased on March 3 Accounts payable Cast of goods Pantone

Answer 1

Mar 3 Merchandise Inventory Debit 5669

Accounts payable Credit 5669

( Purchases 5600 - 1% (Discount) = 5600-56+125( Freight) = 5669)

Mar 6   Accounts payable Debit 891

Discount Loss Debit 9

  Merchandise Inventory Credit 900

( Being Goods Returned and Discount Loss accounted )

Mar 12  Accounts payable Debit 4769

Cash Credit 4769

( Being Cash paid before due date Discount is availed So Purchases 5669 - 900 (Returned) = 4769