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Journal entries to record sales and cost of sales
On 3/17, Janet's Spa sold two of the plush robes from her inventory to one of her customers, Tom Cruise. Janet charged Mr. Cruise $1,750 for the robes ($875 apiece). Janet always pays any shipping charges, and she paid her shipper $140. Mr. Cruise has an account with Janet, and she offers terms of n/30 to her customers. The inventory value of the two robes was $178 apiece.
1. Prepare the sales portion of the entry for this sale on Janet's books.
2. Prepare the cost of sales portion of the entry for this sale on Janet's books
Calculate the equivalent units of production for direct materials and conversion costs for month. Use the FIFO costing method.
in the 1990s many organizations implemented enterprise resource planning erp systems to organize their accounting
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question prepare at least two tables using revenue cycle that would be used in a database for accounting cycle.use keys
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It keeps inventory equal to 50% of its monthly sales on hand at all times. Based on using a 365-day year, what is the inventory conversion period
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Prepare General Journal entry, General Ledger entry and Unadjusted Trial Balance.
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