OKemo Designs reported the following transactions in November: Nov 8 Sold merchandise on account to Tina Balise,
Question:
Nov 8 Sold merchandise on account to Tina Balise, $650, terms 2/10, n/30.
15 Sold merchandise on account to Holyoke Glass, $1,800, terms 2/10, n/30.
16 Holyoke Glass returned $500 of the merchandise purchased on Nov 15.
17 Collected payment from Tina Balise for the Nov 8 sale.
24 Collected payment from Holyoke Glass for the balance of the Nov 15 sale.
Requirements
1. Record the foregoing transactions in the journal of O’Kemo Designs.
2. Prepare a computation of net sales for the month of November.
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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