login   register  
ashhadiqbal
 tutorial  

E 5-10 An inexperienced accountant for Blaufuss Company made the following errors in recording merchandising transactions.

E 5-10

An inexperienced accountant for Blaufuss Company made the following errors in recording merchandising transactions.

 

1. A $175 refund to a customer for faulty merchandise was debited to Sales $175 and credited to Cash $175.

 

2. A $180 credit purchase of supplies was debited to Merchandise Inventory $180 and credited to Cash $180.

 

3. A $110 sales discount was debited to Sales.

4. A cash payment of $20 for freight on merchandise purchases was debited to Freight-out $200 and credited to Cash $200.

Instructions

Prepare separate correcting entries for each error, assuming that the incorrect entry is not reversed.(Omit explanations.)


 ashhadiqbal
attached answer...(66 more words & 1 attachments).
 e5-10.xlsx (8KB)  





getmeaplus.com
About Us |  FAQs |  Contact Us |  Privacy Policy |  Our Fees