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Ca AAA sell household electronics, one of the items being televisions that it buys from the manufacturer at $2,000 per TV and sells to its
Ca AAA sell household electronics, one of the items being televisions that it buys from the manufacturer at $2,000 per TV and sells to its customers for $5,000 each.
Record the following journal entries for Co.AAA:
a)July 1 Co. AAA sells six televisions on account with credit terms 4/10, n/45 to customer B.
b)July 4 Customer B returns 2 televisions which are in perfect condition and receives credit on its account.
c) July 8 Customer B pays all it owes to CO. AAA.
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