题目内容

On July 18, Scully Company sold merchandise on account to Burton Company, $12,000, terms FOB shipping point, 2/10, n/eom. Scully Company prepaid freight of $500, which was added to the invoice. The cost of the merchandise sold was $7,200.The correct journal entries are:

A. For Scully company:Dr. Cash 12,000 Cr. Sales 12,000Dr. Delivery expense 500 Cr. Cash 500Dr. Cost of merchandise sold 7,200 Cr. Merchandise inventory 7,200For Burton company:Dr. Merchandise inventory 12,500 Cr. Cash 12,500
B. For Scully company:Dr. Accounts receivable 12,000 Cr. Sales 12,000Dr. Accounts receivable 500 Cr. Cash 500Dr. Cost of merchandise sold 7,200 Cr. Merchandise inventory 7,200For Burton company:Dr. Merchandise inventory 12,500 Cr. Accounts payable 12,500
C. For Scully company:Dr. Accounts receivable 12,000 Cr. Sales 12,000Dr. Delivery expense 500 Cr. Cash 500Dr. Cost of merchandise sold 7,200 Cr. Merchandise inventory 7,200For Burton company:Dr. Merchandise inventory 12,000 Cr. Accounts payable 12,000

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Scully company is the seller, and Burton company is the buyer. Assuming both Scully company and Burton company using perpetual inventory system. Select the correct journal entries for both Scully company and Burton company from question 14 to question 23（以上题干适用于第14题至第23题，请为第14题至第23题中的每一笔业务，选择正确的分录） .On July 1, Scully Company sold merchandise on account to Burton Company, $7,500, terms FOB shipping point, n/45. The cost of the merchandise sold was $4,500.The correct journal entries are:

A. For Scully company:Dr. Accounts receivable 7,500 Cr. Fees earned 7,500Dr. Cost of merchandise sold 4,500 Cr. Merchandise inventory 4,500For Burton companyDr. Merchandise inventory 7,500 Cr. Accounts payable 7,500
B. For Scully company:Dr. Accounts receivable 7,500 Cr. Sales 7,500Dr. Cost of merchandise sold 4,500 Cr. Merchandise inventory 4,500For Burton companyDr. Merchandise inventory 7,500 Cr. Accounts payable 7,500
C. For Scully company:Dr. Cash 7,500 Cr. Fees earned 7,500Dr. Cost of merchandise sold 4,500 Cr. Merchandise inventory 4,500For Burton companyDr. Merchandise inventory 7,500 Cr. Cash 7,500

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Transaction j. Withdrew $2,000 from the business for personal use.The correct journal entry is:

A. Dr. Lynn Cantwell, Capital 2,000 Cr. Cash 2,000
B. Dr. Miscellaneous expense 2,000 Cr. Cash 2,000
C. Dr. Lynn Cantwell, Drawing 2,000 Cr. Cash 2,000

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Transaction i. Paid salary of assistant, $2,200.The correct journal entry is:

A. Dr. Salaries expense 2,200 Cr. Cash 2,200
B. Dr. Salaries expense 2,200 Cr. Accounts payable 2,200
C. Dr. Accrued expense 2,200 Cr. Cash 2,200

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Transaction g. Paid cash to creditors on account, $3,500.The correct journal entry is:

A. Dr. Prepaid expense 3,500 Cr. Cash 3,500
B. Dr. Notes payable 3,500 Cr. Cash 3,500
C. Dr. Accounts payable 3,500 Cr. Cash 3,500

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