Preparing Journal Entries for Lowe's Merchandising Transactions
Income Impact and Dollar Amount:
- Aug. 1: No impact on income
- Aug. 5: +$1,200
- Aug. 8: No impact on income
- Aug. 9: -$125
- Aug. 10: -$200
- Aug. 12: No impact on income
- Aug. 14: No impact on income
- Aug. 15: -$92
- Aug. 18: +$50
- Aug. 19: +$2,400
- Aug. 22: -$500
- Aug. 29: -$43
- Aug. 30: No impact on income
Comparing the total income impact of all transactions, Lowe's experienced a net increase of $2,690 in income.