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76 delry appliances on august 1 2012 delry appliances purchased 75 refrigerators for 4299818

 

76. Delry Appliances
On August 1, 2012, Delry Appliances purchased 75 refrigerators for $45,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, Delry purchased 100 dishwashers for $20,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the dishwashers were 2/10, n/30. On August 3rd, Delry determined that 5 of the refrigerators were defective, so they were returned to the seller. Delry paid for the dishwashers on August 9th. On August 10th, Delry purchased 90 microwave ovens for $9,000 on credit with terms 1/10, n/30. The seller paid the freight. Delry paid for the microwave ovens on August 21st. Delry uses a perpetual inventory system.

Refer to the information presented for Delry Appliances. Prepare all of Delry's journal entries for August.

77. Delry Appliances
On August 1, 2012, Delry Appliances purchased 75 refrigerators for $45,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, Delry purchased 100 dishwashers for $20,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the dishwashers were 2/10, n/30. On August 3rd, Delry determined that 5 of the refrigerators were defective, so they were returned to the seller. Delry paid for the dishwashers on August 9th. On August 10th, Delry purchased 90 microwave ovens for $9,000 on credit with terms 1/10, n/30. The seller paid the freight. Delry paid for the microwave ovens on August 21st. Delry uses a perpetual inventory system.

Refer to the information presented for Delry Appliances. On August 12th, Delry sold 10 dishwashers to customers for $550 each. Delry paid $200 for these dishwashers when it purchased them from the supplier on August 1st.

Record the journal entries for this sale.

78. The following inventory transactions occurred at Erill, Inc. Erill uses a perpetual inventory system.
 

October 2

Purchased 50 units of inventory from a supplier on credit. The goods cost $30 each and the credit terms were 2/10, n/15.

October 4

Returned 5 units of inventory to the supplier for credit on account.

October 6

Sold 15 units for $50 each to customers for cash.

October 11

Paid the supplier for one-half of the inventory purchased on October 2nd.

October 17

Paid the remaining balance owed to the supplier.

 

 

Record the appropriate journal entry for each of these transactions for Erill.

 

 

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