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I need some help writing general journal entries, I'm starting to get the hang of it, but I'd like to see if I'm on the
I need some help writing general journal entries, I'm starting to get the hang of it, but I'd like to see if I'm on the right track. Thank you! ( im also kind of confused about the 2/10 n/30 part of #1)
PARTI (35 Points) INSTRUCTIONS: Prepare general journal entries to record the following transactions. Do not give explanations but skip a line between entries. April 5.............. .. Sold $5,100 of inventory for $8,500 on credit to Samuel Smith 2/10, n/30. April 10........... Samuel Smith returned $500 of the merchandise sold on April 5. The cost was $300. May 1............... Purchased inventory on o Purchased inventory on credit from ABC Company, invoice dated this day, terms 2/10, 1/30, $4,000. May 11 ........... Paid ABC Company in full. May 12 ............ Wrote off balance of Samuel SmithStep by Step Solution
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