Question
fill in the blank Following is the partial transactions that takes place in the month of February 2021 in Royal Company (ownership form is partnership,
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Following is the partial transactions that takes place in the month of February 2021 in Royal Company (ownership form is partnership, with Liz and Wil as the owners):
February 2 : Received $500 for payment of sales in January. Goods were sent on invoice date in January.
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February 9 : Paid $250 for advertising in Jakarta Fashion Festival which will take place in April 18, 2021
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February 14 : Invoiced Kingdom Company for sales of $800, cost of goods sold $350. Credit terms 1/10, n/45 (journal with larger amount first)
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February 28 : Received payment from Kingdom Company for amount due, net discount if applicable.
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