Record the journal entries for the following sales transactions of Julian Sundries. Nov. 7 Nov. 14 Nov.
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Record the journal entries for the following sales transactions of Julian Sundries.
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Nov. 7 Nov. 14 Nov. 21 Sold 10 tables on credit for $870 per table. Terms of the sale are 5/10, n/60, invoice dated November 7. The cost per table to Julian is $560. The customer returned 2 slightly damaged tables for a full refund from Julian. The customer paid their account in full from the November 7 sale.
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In the books of Julian Sundries Date AccountsExplanation Debit Credit Nov07 Accounts Re...View the full answer
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Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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