Question
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System The following selected transactions were completed by Capers Company during October of the current year Oct. 1. Purchased merchandise from UK Imports Co., $14,754, terms FOB destination, n/30. Purchased merchandise from Hoagie Co., $9,900, terms FOB shipping point, 2/10, nv/eom. Prepaid fr eight of $215 was added to the invoice 4. Purchased merchandise from Taco Co., $12,800, terms FOB destination, 2/10, n/30. 6. Issued debit memo to Taco Co. for $4,300 of merchandise returned from purchase on October 4 13. Paid Hoagie Co. for invoice of October 3 14. Paid Taco Co. for invoice of October 4, less debit memo of October 6 and discount. 19. Purchased merchandise from veggie Co., $29,290, terms FOB shipping point, n/eom 19. Paid freight of $440 on October 19 purchase from Veggie Co. 20. Purchased merchandise from Caesar Salad Co., $19,900, terms FOB destination, 1/10, n/30. 30. Paid Caesar Salad Co. for invoice of October 20. 31. Paid UK Imports Co, for invoice of October 1 31. Paid Veggie Co. for invoice of October 19 Required: ounalize the entries to record the transactions of Capers Company for October For a compound trans t box does not require an entry, leave it blank Oct. 1 Next @ rP ^ 3/22/2018
Explanation / Answer
03-Oct Inventory 9900 Accounts payable - Hoagie co. 9900 13-Oct Accounts payable - Hoagie co. 9900 Cash 9900
