Question
Headland Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $62,000 with terms 3/15, n/45.
Headland Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $62,000 with terms 3/15, n/45. On June 12, 2020, Headland received full payment for the June 1 sale. Prepare the required journal entries for Headland Co. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit | |
---|---|---|---|---|
choose a transaction date June 12June 1 | enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | ||
| enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | ||
enter an account title | enter a debit amount | enter a credit amount |
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