# 1a 1b Date 11/1/2023 11/2/2023 Account Titles and Explanations Merchandise Inventory Cash $2,500 cash purchase of merchandise PR 103 101 $ Debit 2,500 $ Credit 1 2,500 1 Type asset asset You pay $100 for shipping insurance and $250 for transit costs for the goods purchased on 11/1/2019 (FOB Shipping) up/dn U D

# 1a 1b Date 11/1/2023 11/2/2023 Account Titles and Explanations Merchandise Inventory Cash $2,500 cash purchase of merchandise PR 103 101 $ Debit 2,500 $ Credit 1 2,500 1 Type asset asset You pay $100 for shipping insurance and $250 for transit costs for the goods purchased on 11/1/2019 (FOB Shipping) up/dn U D

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Description: Please fill out 1b #1a1bDate11/1/202311/2/2023Account Titles and ExplanationsMerchandise InventoryCash$2,500 cash purchase of merchandisePR103101$ Debit2,500$ Credit12,500 1TypeassetassetYou pay $100 for shipping insurance and $250 for transit costs

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 6E: Goods in Transit Gravais Company made two purchases on December 29, 2019. One purchase for 3,000 was...

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odule Three Assignment - ACC x * CengageNOWv2 | Online teachir x com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre... O eBook Show Me How Gross Profit During the current year, merchandise is sold for $118,700 cash and $454,300 on account. The cost of the goods sold is $383,900. What is the amount of the gross profit? Previous Next Check My Work 6:37 AM 45°F A D E a O 11/13/2021
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