Question
Fashion Jewelers uses the perpetual Inventory system. On April 2, Fashion sold goods with a cost of $5,500 for $14,000 with terms of 4/15,
Fashion Jewelers uses the perpetual Inventory system. On April 2, Fashion sold goods with a cost of $5,500 for $14,000 with terms of 4/15, n/30. On April 4, the customer reported damaged goods and Fashion granted a $2,000 sales allowance. On April 10, Fashion received the payment for the sale. Give the journal entry that will be recorded on April 10 by Fashion Your answer: Cash 12.000 Sales Discount 480 Accounts Receivable 11,520 Cal 11,520 Sales Discount 450 Account Receivable 12,000 Cash 12,000 Accounts Receivable 12,000 Accounts Receivable 12,000 Sales 12,000
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