Maket the following journal entries 1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issuedTransportation and Installations invoice is 28.000 TL + %10 VAT half cashpaid and half note issued.2) 84.000 TL Check is endorced for 24 month rent contract. Starting 1st ofJuly 2019.3) Merchandise purchased for 96.000 TL + %10 VAT and Freight In invoice is6.000 TL+ %10 VAT. Half check is endorced and the balance is on accountFor both (purchase and fright in).4) Customer tranferred 35.000 TL to the Bank for t he payment of note.5 ) Customer ordered to purchase 60.000 TL + %10 VAT Merchandise .Customer issued 18.000 ADVANCE note for the order.6) Order is delivered to customer .Customer closed the balance by issuing acheck .Cost of Goods Sold is 36.000 TL.7) Merchandise sold for 12.000 USD ($) and %10 VAT.customer endorced a(USD) check for merchandise sold and TL paid TL for VAT. Freight Out is ,6.500TL +VAT% 10 is paid cash . Cost of Goods Sold is 26.000 TL.( USD 7,25 TL/ $)8) Customer paid 30.000 TL for closing the open account.9) Customer returned 14.000 TL + %10 VAT merchandise . Cost of GoodsSold is 8.400 TL. Check is issued for Refund to ,returned merchandise andTL cash is paid for VAT.10 ) At the end of the month USD is ,7.10TL/ USD .11) 15.000 TL check is collected from the bank.

Journal entries : 1. Machinery is purchased Cost of machinery = 196000 TL Vat = 10% Transportation…

1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and Installations invoice is 28.000 TL + %10 VAT half cash paid and half note issued. 2) 84.000 TL Check is endorced for 24 month rent contract. Starting 1st of July 2019. 3) Merchandise purchased for 96.000 TL + %10 VAT and Freight In invoice is 6.000 TL+ %10 VAT. Half check is endorced and the balance is on account For both (purchase and fright in).

1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and Installations invoice is 28.000 TL + %10 VAT half cash paid and half note issued. 2) 84.000 TL Check is endorced for 24 month rent contract. Starting 1st of July 2019. 3) Merchandise purchased for 96.000 TL + %10 VAT and Freight In invoice is 6.000 TL+ %10 VAT. Half check is endorced and the balance is on account For both (purchase and fright in).

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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