Journalize the following merchandise transactions: a. Sold merchandise on account, $78,600 with terms 2/10, n/30. The cost
Question:
Journalize the following merchandise transactions:
a. Sold merchandise on account, $78,600 with terms 2/10, n/30. The cost of the merchandise sold was $47,200.
b. Received payment less the discount.
c. Issued a $900 credit memo for damaged merchandise. The customer agreed to keep the merchandise.
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a Accounts Receivable 78600 Merchandise Inventory 47200 Sales Revenue 78600 b Cash 77820 Discounts 1...View the full answer
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ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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