Question #15068124
Prepare the journal entries to record these transactions on Koeller Company’s books using a periodic inventory?
Prepare the journal entries to record these transactions on Koeller Company’s books using a periodic inventory system. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) (a) On March 2, Koeller Company purchased $863,400 of merchandise from Reeves Company, terms 4/10, n/30. (b) On March 6 Koeller Company returned $116,700 of the merchandise purchased on March 2. (c) On March 12 Koeller Company paid the balance due to Reeves Company.
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Prepare journal entries record transactions Koeller Company x2019 s periodic inventory Prepare journal entries record transactions Koeller Company x2019 s periodic inventory system multiple debit credit entries largest smallest amount 2
a On Koeller Company purchased 863 400 merchandise Reeves Company n 30
b On Koeller Company returned 116 700 merchandise purchased 2
c On Koeller Company balance Reeves Company 0