Suppose Online Books sells 2,000 books on account for $19 each (cost of these books is $22,800)
Question:
Suppose Online Books sells 2,000 books on account for $19 each (cost of these books is $22,800) on October 10 to The Book Store. Several books were slightly damaged in shipment, so Online Books granted a sales allowance of $4,000 to The Book Store on October 13. On October 25, The Book Store paid the balance due.
Requirements
1. Journalize The Book Store’s October transactions.
2. Journalize Online Books’ October transactions.
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780137858651
8th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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