ACC 304 All Assignments ACC 304 All Assignments | Page 29

automatically indented when the amount is entered. Do not indent
manually.)
8) Prepare the adjusting entry at December 31, assuming straight-
line amortization of the discount. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit Credit
ACC 304 Week 1 Chapter 8 Homework
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ACC 304 Week 1 Chapter 8 Homework
1) Matlock Company uses a perpetual inventory system. Its
beginning inventory consists 50 units that cost $34 each. During June ,
(1) the company purchased units at $34 each, (2) returned 6 units for
credit ,and (3) sold 125 unit at $50 each. Journalize the June
transactions.