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given the info in the first photo, how do I fill out the following values in the chart (3 photos totoal) thank you!!! NEXT Exercise
given the info in the first photo, how do I fill out the following values in the chart (3 photos totoal) thank you!!!
NEXT Exercise 5-05a-b (Video) Presented below are transactions related to Sunland Company 1. On December 3, Sunland Company sold $654,200 of merchandise on account to Marigold Co., terms 4/10, 30, FOB destination. Sunland paid $390 for freight charges. The cost of the merchandise sold was $373,500 2. On December 8, Marigold Co. was granted an allowance of $23,900 for merchandise purchased on December 3. 3. On December 13, Sunland Company received the balance due from Marigold Co. Debit Credit No. 1. Date Dec. 3 Account Titles Taccounts Receivable 1 T L Dec. 3 = TSales Revenue (To record credit sale) cost of Goods sold Tinventory Inventory (To record cost of merchandise sold) Freight-out E U U U Invento Dec. 3 E U Cash (To record freight charges) 2. T Dec. 8 Sales Returns and Allowances Accounts Receivable 3. Dec. 133 cash C Sales Discounts Accounts Receivable Your answer is partially correct. Try again Assume that Sunland Company received the balance due from Marigold Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Tities and Explanation Credit 1 Dan 2 Cash Taccounts Receivable Click if you would like to show Work for this questioni On Show Work VIDEO SIMILAR EXERCIS Step by Step Solution
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