The following information was presented by the bookkeeper for BellRing Company for the month of June 2022.
| Jun 8 | Purchased $213,900 of inventory on account from Signet Sales, terms 2/10, net 30 |
| Jun 10 | A portion of the inventory purchased from Signet Sales was defective. BellRing returned $580 worth of inventory to the supplier. |
| Jun 12 | Sold $102,300 of products to Morris Marketing on account, terms 2/10, net 30; cost of goods sold was $40,920 for this transaction. |
| Jun 14 | Morris Marketing returned $2,046 of goods purchased on account. The cost of goods sold for the returned inventory is $1,228. |
| Jun 17 | Purchased goods from Ding Communications on account for $15,500 with terms of 3/10, net 30. |
| Jun 18 | Some of the inventory purchased from Ding Communications was slightly damaged. BellRing decided to keep the inventory, but will receive a $110 allowance. |
| Jun 19 | Sold $44,500 of products to Ronnie Services on account, terms 2/10, net 30; cost of goods sold was $17,800 for this transaction. |
| Jun 20 | Ronnie Services discovered some scratches on some of the products they purchased on Jun 19. They will keep the product and BellRing will offer a $1030 allowance. |
| Jun 21 | Paid the amount owing to Signet Sales. Remember to account for the return. |
| Jun 23 | Received payment from Morris Marketing. Remember to account for the return. |
| Jun 24 | Received payment from Ronnie Services. Remember to account for the allowance and discount. |
| Jun 25 | Paid the amount owing to Ding Communications Remember to account for the allowance and discount. |
| Jun 30 | A count of inventory shows that $600 is missing. Make a journal entry to record the inventory shrinkage. |
Required
Prepare the journal entries to record the above transactions. Assume the company uses the perpetual inventory system.
Do not enter dollar signs or commas in the input boxes.
Round your answers to the nearest whole number.
For transactions that have 2 debits or 2 credits, enter the accounts in alphabetical order.
| Date | Account Title and Explanation | Debit | Credit |
| Jun 8 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Purchased inventory on account | |||
| Jun 10 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Returned defective goods | |||
| Jun 12 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record sales on account | |||
| Jun 12 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record cost of goods sold for the above sale | |||
| Jun 14 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record customer return | |||
| Jun 14 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record cost of goods sold for the above return | |||
| Jun 17 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Purchased inventory on account | |||
| Jun 18 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Received an allowance for damaged inventory | |||
| Jun 19 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record sales on account | |||
| Jun 19 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record cost of goods sold for the above sale | |||
| Jun 20 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Gave allowance to customer | |||
| Jun 21 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Paid account in full | |||
| Jun 23 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Received payment from customer | |||
| Jun 24 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Received payment from customer | |||
| Jun 25 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Paid account in full | |||
| Jun 30 | AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | |
| AnswerAccounts PayableAccounts ReceivableCashCost of Goods SoldMerchandise InventorySalaries ExpenseSales DiscountSales Returns & AllowancesSales RevenueSupplies ExpenseTelephone ExpenseTravel ExpenseUnearned Revenue | Answer | ||
| Record inventory shrinkage | |||
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