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Working on an Accounting quiz and having major issues on one dealing with pur/frt...
I am working on a quiz in my accounting 120 class. We are in Chapter 8 of College Accounting thirteeth edition chapters 1-13 by Price, Haddock, and Farina.
I will copy and paste the question... Duncan & Robinson purchased $2,000 worth of merchandise on account; terms 3/10; n/45, FOB shipping point. The freight cost was $75. They paid for this order in 10 days. What would the general journal entries be for each of these transaction? Use the information from above to complete this question. Remember to spell correctly; capitalize only the first word; use the dollar sign ($); place a comma after the thousand (3,000); and use cents (5.00). Your answer will automatically be marked incorrect if you do not follow instructions. The first debit would be to the ________________ account and the Freight-in account. The first debit would be in the amount of ____________________________. The first credit would be to the account ________________________. The first credit would be in the amount of _____________________. The last debit would be to the account_____________________. The last debit would be in the amount of _________________. The last credit would be to the account and the Purchases Discount account ______________. The last credit would be in the amount of _____________________. The Purchases Discount credit would be in the amount of _________. OK FOR SOME REASON I AM DRAWING BLANKS. I am an over analyzer by nature. I read then re-read and end up messing myself up on things. I second guess all the time and I am sure that is some of my problem now. I am thinking too hard. I think the last brain cell just took a nose dive out of my ear canal. I heard it scream and it plummeted... pitiful.. It bothers me very badly when I cannot do something. This is just crazy to me. I have been up since 4 am Saturday morning. I have been up all night working on this quiz, which is 41 questions long. I started at 10pm and I have only gotten to number 14... Makes me want to puke. So... ANYONE PLEASE HELP. I don't need the answer just a few points. Something my mind is not wanting to remember. |
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