Matlock Company uses a periodic inventory system. Its beginning inventory consists of 50 units that cost $ 34 each. On June 3, the company purchased 150 units at $ 34 each. On June 15, the company sold 125 units at $ 50 each. Thecompany closes the books on June 30. The physical counts indicate that 75 units are available in the warehouse on June 30. Journalize the June transactions.

Matlock Company

Journal Entries:

June 3: Debit Inventory $5,100

Credit Cash $5,100

To record the purchase of inventory.

June 15: Debit Cash $6,250

Credit Sales revenue $6,250

To record the sale of goods.

June 15: Debit Cost of goods sold $4,250

Credit Inventory $4,250

To record the cost of goods sold.

Explanation:

a) Data and Analysis:

June 3: Inventory $5,100 Cash $5,100

June 15: Cash $6,250 Sales revenue $6,250

June 15: Cost of goods sold $4,250 Inventory $4,250

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.

answer; no individual buyer or seller has any significant impact on the market price;