Maurice Tutor

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Teaching Since: May 2017
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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 4.00

Blowout Sales

12. On March 3rd, Blowout Sales makes $3,450.00 in cash sales of general merchandise which have a cost of $1,215.00. Blowout uses a perpetual inventory system.
(a) Journalize the sale event.
(b) Journal the cost of merchandise sold.

 

 

16. Selected accounts and amounts appear below. Journalize the closing entry, assuming a perpetual inventory system.

Merchandise Inventory

$ 45,500

Cost of Merchandise Sold

652,500

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 03:08 PM My Price 4.00

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