Question
9. Prepare journal entires to record these transactions on Hirut companys books using a periodic inventory system.
A, on march 2, Hirut company purchased 900,000 of merchandise from ABC company, termis 2/10, n/30.
B, on march 6, hirut company returned 184,000of the merchandise purchased on march 2.
C, on march 12, hirut company paid the balance due to ABC company.
A, on march 2, Hirut company purchased 900,000 of merchandise from ABC company, termis 2/10, n/30.
B, on march 6, hirut company returned 184,000of the merchandise purchased on march 2.
C, on march 12, hirut company paid the balance due to ABC company.
Answers
GPT 3.5
A)
Date: March 2
Account Debit Credit
Purchases 900,000
Accounts Payable 900,000
B)
Date: March 6
Account Debit Credit
Accounts Payable 184,000
Purchase Returns and Allowances 184,000
C)
Date: March 12
Account Debit Credit
Accounts Payable 716,000
Cash 716,000
Date: March 2
Account Debit Credit
Purchases 900,000
Accounts Payable 900,000
B)
Date: March 6
Account Debit Credit
Accounts Payable 184,000
Purchase Returns and Allowances 184,000
C)
Date: March 12
Account Debit Credit
Accounts Payable 716,000
Cash 716,000