Make Alpha Company General Journal entries for May

Assignment Help Accounting Basics

Reference no: EM132704738

Question - Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used.

Alpha Company sold on account merchandise costing $3,000 to Bravo Company on May 2, 2016. Selling price was $4,500. Freight charges related to this transaction of $200 were paid by Alpha Company.

Bravo Company returned, to Alpha Company, merchandise with an original cost to Alpha of $300 on May 3, 2016. Merchandise was sold to Bravo for $450

Use this information to make Alpha Company's General Journal entries (without explanation) for May 2 & May 3 entries. If no entry is required then write "No Entry Required."

Reference no: EM132704738

Questions Cloud

Methods used in the environment : Considering ways that we use them (not how they naturally have become part of our microflora), describe 3 methods used in the environment, industry.

Describe the personal protective equipment : Describe the personal protective equipment you use in the laboratory and why it is necessary.

What the ultimate objective of a financial manager is : What the three basic decisions that a financial manager must make when overseeing a company. what the ultimate objective of a financial manager is

What is the natural reservoir for tuberculosis : What is the natural reservoir for Tuberculosis?

Make Alpha Company General Journal entries for May : Selling price was $4,500. Freight charges related to this transaction of $200 were paid by Alpha Company. Make Alpha Company General Journal entries for May

What steps you will follow during the hiring process : You are the CEO of a little company in Europe. You need to hire your personal assistant. What are the differents steps you will follow during the hiring process

Five most likely infectious agents : Arjun Chopra had had a long week. At 56, he was just too old for this job anymore! They had unloaded three containers of saris in Durban, another two

Which of the statements is false for sylvie : Which of the statements is FALSE for Sylvie? During the year she used the equipment in her sole proprietorship, Sylvie used straight-line depreciation

Describe the sources of hazards in the workplace : To develop your skills in practical health and safety practices. Task: Examine your organisation of choice's use of Figure 12.1, p.468 to identify.

User Account

All Pages