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Help please Accounting question! Recorded credit sales $2,500. Collected $1,900 owed by customers. Paid amount owed to suppliers $2,750. Recorded sales returns of $500 and
Help please
Accounting question!
Recorded credit sales $2,500. Collected $1,900 owed by customers. Paid amount owed to suppliers $2,750. Recorded sales returns of $500 and credited the customer's account. Purchased new equipment $5,000; signed a long-term note payable for the cost of the equipment. Purchased a patent and paid $65,000 cash for the asset
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