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During July, the following transactions occurred: On July 3, Mesh Company sold to Chain Company merchandise for $6,000 with terms of 1/10, n/45. Three days
During July, the following transactions occurred: On July 3, Mesh Company sold to Chain Company merchandise for $6,000 with terms of 1/10, n/45. Three days later, the customer returned $2,000 of the merchandise. On July 11, the company received a check for the balance due from Chain Company. If INSTEAD of the transaction on July 11, Chain Company made payment on July 20, record the transaction. 6,000 2,000 Instructions: Follow specific directions on separate page. 1. Prepare journal entries on the Mesh Company books to record all the events noted above under the gross method
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