Try another version of this question Consider the following transactions for Xavier Company: September 14 Xavier Company purchased goods totaling $87,800 with credit terms 3/10, N/30, FOB Shipping Point. September 16 Xavier Company paid freight bill of $1,000. September 22 Xavier Company returned $15,900 worth of merchandise. September 24 Xavier Company paid the bill. Journalize the purchase transactions assuming Xavier Company uses the periodic inventory system. JournalDateDescriptionDebitCreditSeptember 14 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 14 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense September 16 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 16 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense September 22 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 22 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense September 24 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 24 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 24 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense JournalDateDescriptionDebitCreditSeptember 14Purchases87,800September 14 A/P87,800 September 16Freight In1,000September 16 Cash1,000 September 22A/P15,900September 22 Purchases Returns & Allowances15,900 September 24A/P71,900September 24 Purchases Discount2,157September 24 Cash69,743
Try another version of this question
Consider the following transactions for Xavier Company:
Journalize the purchase transactions assuming Xavier Company uses the periodic inventory system.
JournalDateDescriptionDebitCreditSeptember 14 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 14 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense September 16 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 16 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense September 22 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 22 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense September 24 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 24 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping ExpenseSeptember 24 A/PA/RCOGSCashFreight InInventory ExpenseMerchandise InvetoryPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountSales Return & AllowanceSales RevenueShipping Expense