Question: Kingston Tires received the following invoice from
Kingston Tires received the following invoice from a supplier (Fields Distribution, Inc.):
Requirements:
1. Journalize the transaction required by Kingston Tires on September 23, 2018. Do not round numbers to the nearest whole dollar. Assume tires are purchased on account.
2. Journalize the return on Kingston’s books on September 28, 2018, of the D39–X4 Radials, which were ordered by mistake. Do not round numbers to the nearest whole dollar.
3. Journalize the payment on October 1, 2018, to Fields Distribution, Inc. Do not round numbers to the nearest whole dollar.
Transcribed Image Text:
FIELDS DISTRIBUTION, INC. 7290 S. Prospect Street Ravenna, OH 44266 Invoice date: September 23, 2018 Sold to: Kingston Tires Payment terms: 1/10, n/30 6678 Diamond Avenue Ravenna, OH 44266 Quantity Shipped Description Price Amount D39-X4 Radials 4 $38.12 $152.48 M223 Belted-bias 10 42.84 58.12 428.40 348.72 Q92 Truck tires Total $929.60 Due date: Amount: $920.30 October 3, 2018 October 4 through October 23, 2018 $929.60
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