Kunci Jawaban Kieso 238 [PDF]

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Answer of P5-A4 (page 238) a. Journalize the April transactions using a perpetual inventory system. LI’S TENNIS SHOP General Journal April, 2011 Date 4 6 8



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Explanation Purchased racquets and balls from Wellman on account Paid freight on purchase from Wellman Sold merchandise to members terms n/30, sold had a cost of ¥790. Received credit from Wellman for a racquet that was returned Purchased tennis shoes from Venus Sports for cash Paid Wellman Purchased tennis shirts and shorts from Serena’ Sportswear, FOB shipping point. Received cash refund from Venus Sports for damaged merchandise that was returned Paid freight on Serena’s Sportswear Sold merchandise to members. The cost of the merchandise sold was ¥530 Received in cash Paid Serena’s Sportswear in full Granted an allowance for tennis clothing that did not fit properly Received cash payments on account



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