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Joeline Solano
Answers (3)
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Answered
Grimm Brothers Supply uses a periodic inventory system. During May the following transactions and events occurred. May 13 Purchased 10 motors at a cost of $42 each from Thompson Company, terms 4/10,n/30. The motors cost Thompson Company $25 each. May16 Returned 1 defective motor to Thompson May 23 Paid Thompson Company in full. Round to nearest dollar. \begin{array}{lll} \text { May }&13 & \text { Purchased 10 motors at a cost of \( \$ 42 \) each from Thompson Company, terms } \\&& \text { \( 4 / 10, n / 30 \). The motors cost Thompson Company \( \$ 25 \) each. } &\\\\ \text { May} &16& \text { Returned 1 defective motor to Thompson } \\\\ \text { May } &23& \text { Paid Thompson Company in full. Round to nearest dollar. } \\\end{array} May May May 131623 Purchased 10 motors at a cost of $42 each from Thompson Company, terms 4/10,n/30. The motors cost Thompson Company $25 each. Returned 1 defective motor to Thompson Paid Thompson Company in full. Round to nearest dollar.
Instructions
Journalize the May transactions for Grimm Brothers. You may omit explanations.
Instructions
Journalize the May transactions for Grimm Brothers. You may omit explanations.
On May 13, 2024
May 13 Purchases420 Accounts Payable 420 May 16 Accounts Payable 42 Purchase Returns and Allowances.42 May 23Accounts Payable ($420−$42) 378 Purchase Discounts ($378×.04) 15 Cash 363\begin{array}{llll} \text { May } &13& \text { Purchases} &420\\&& \text { Accounts Payable } &&420\\\\ \text { May }&16 & \text { Accounts Payable } &42\\&& \text { Purchase Returns and Allowances.} &&42\\\\ \text { May } &23& \text {Accounts Payable \( (\$ 420-\$ 42) \) } &378\\&& \text { Purchase Discounts \( (\$ 378 \times .04) \) } &&15\\&& \text { Cash } &&363\end{array} May May May 131623 Purchases Accounts Payable Accounts Payable Purchase Returns and Allowances.Accounts Payable ($420−$42) Purchase Discounts ($378×.04) Cash 420423784204215363
JS
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Intended feedback is encoded, transmitted, received and decoded from the receiver to the sender of the original message.
On May 13, 2024
True
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Resources such as cash distributed to stockholders by the business are called ________.
On May 12, 2024
dividends