Home / Expert Answers / Accounting / on-august-31-oriole-marine-had-an-inventory-of-25-boats-at-a-cost-of-1-800-each-oriole-does-not-pa508

(Solved): On August 31, Oriole Marine had an inventory of 25 boats at a cost of $1,800 each. Oriole does not ...




student submitted image, transcription available below
On August 31, Oriole Marine had an inventory of 25 boats at a cost of each. Oriole does not expect any returns from sales of boats. The company uses a perpetual inventory system. During September, the following transactions and events occurred: Sep. 3 Purchased 45 boats at each from Hillside Fibreglass. The boats were shipped FoB destination, terms . 3 The appropriate party paid the freight costs. 6 Received credit of for the return of 9 boats purchased on September 3 that were defective. 7 Paid for the September 3 purchase. 9 Sold 25 boats for each to Billington Yacht Club on credit. 13 Cash sale of 20 boats for each to Birch Island Ferry. 21 Purchased 31 boats at each from Johnson Supply, terms . Journalize the September transactions for Oriole Marine, using a perpetual inventory system. (Credit occount titles are


We have an Answer from Expert

View Expert Answer

Expert Answer



We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe