P 213 P51B Inventory

Sheet3 Sheet2 Sheet1 Ref Description Dr Cr Inventory Accounts Payable Cash Terms FOB destination transport is payable by seller Revenue Accounts Receivable Cost of Sales Inventory FOB shipping, transport is payable by us, the buyer, Seller paid it, increasing the amount we owe to the seller Transport Expense Cash FOB destination. Trtansport is our , the seller, cost Sale Sale return discount 2% Sales Discount transport Return discount 1% Revenue Returns/allowances Sales allowance, inventory not returned Less Sales Returns/Allowances Sales Discounts Net Sales Gross Income Transport Costs etc Assets Capital ve Income Statement Jul Wave Company Bal Sheet Extract Wave Company 31 July Problem 5-1B Page 213 7/3/2009 00000.00 00000.00 7/4/2009 000.00 000.00 7/7/2009 00000.00 00000.00 0000.00 0000.00 7/10/2009 00000.00 00000.00 7/11/2009 000.00 000.00 7/12/2009 0000.00 0000.00 0000.00 0000.00 7/14/2009 0000.00 0000.00 7/17/2009 0000.00 00000.00 000.00 0000.00 0000.00 0000.00 000.00 0.00 0000.00 7/20/2009 00000.00 00000.00 000.00 0000.00 00000.00 00000.00 000.00 0.00 000.00 00000.00 7/21/2009 0000.00 0000.00 0000.00 0000.00 7/24/2009 0000.00 0000.00 7/30/2009 0000.00 0000.00 00.00 0000.00 0000.00 0000.00 00.00 0.00 7/31/2009 00000.00 0000.00 00000.00 00000.00 0000.00 000.00 0000.00 00000.00 00000.00 0000.00 000.00 -00000.00 00000.00 0000.00 0000.00