Question
#9 Drake Designs reported the following transactions in September. Use the NET Method and complete journal entries. September 5 Sold Merchandise to Hopley Inc. for
#9 Drake Designs reported the following transactions in September. Use the NET Method and complete journal entries.
September 5 Sold Merchandise to Hopley Inc. for 2,500, 3/10 N 30.
September 7 Hopley, Inc. returned $500 worth of the merchandise.
September 9 Sold merchandise to Jacks wax Inc. for $1,800, 3/10 N30.
September 11 Collected payment from Hopley, Inc. for the September 5 sale.
September 15 Collected payment from Jacks Wax for the September 9 sale.
Record the transactions listed above as journal entries.
Prepare a computation of net sales for the month of September.
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Bed And Breakfast IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304131793, 978-1304131799
