Tony Stark uses a perpetual inventory system. Tony uses the net method to record sales discounts....
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Tony Stark uses a perpetual inventory system. Tony uses the net method to record sales discounts. On October 1, Tony Stark sells merchandise to Thor, with credit terms 2/10, n/30. The selling price of the merchandise was $14,000. The cost of the merchandise sold was $9.000. On October 5, Thor returned $2000 of the merchandise to Tony Stark. The cost of the returned merchandise is $900. Prepare Tony Stark's October 5 journal entry Tony Stark uses a perpetual inventory system. Tony uses the net method to record sales discounts. On October 1, Tony Stark sells merchandise to Thor, with credit terms 2/10, n/30. The selling price of the merchandise was $14,000. The cost of the merchandise sold was $9.000. On October 5, Thor returned $2000 of the merchandise to Tony Stark. The cost of the returned merchandise is $900. Prepare Tony Stark's October 5 journal entry
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Answer Net method to record sales discounts Tony stark Journal entries Date Account titles ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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