eBook

Videos

Print

Question $11$

Not complete

Marked out of $0\mathrm{.}67$

Flag question

Recording Cash Discount Entries$-$Net Method

Lynx Inc. sells apparel merchandise to Dyson Inc. at a gross sales price of $$840,$ credit terms $\frac{2}{10},\frac{n}{30}$ on July $10.$ Dyson pays for the merchandise in full on July $19.$ Record the entries required on July $10$ and July $19$ for Lynx Inc. assuming use of the net method in accounting for credit sales. Omit the cost of goods sold entry.

Note: Round your answers to the nearest whole number.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$July $10,,,],[,,*,],[$July $19,*,,],[,,*,]]$

Previous