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<\/div><\/div><\/div> BUYER'S POINT OF VIEW 1. On April 5, Cinder Company purchased from Rella Company merchandise for cash worth 150,000. 2. On April 10, Snow Company purchased merchandise from white Company for 300,000 paying 50,000 and the balance on account. Terms: 2\/10, n\/30 3. On April 11, Snow Company returned defective merchandise to White Company worth 30,000. 4. Snow Company made a partial payment of 20,000 to White Company. 5. Cinder Company returned defective merchandise to Rella Company worth 20, 000 and received a cash refund for the amount. 6. Paid 5,000 for transportation charges for merchandise bought from White Company. 7. Paid account to White Company on April 20. BUYER'S POINT OF VIEW . On April 15, Rumple Company purchased merchandise from Tiltskin Company worth 60,000 on account. Terms: 3\/10 EOM, n\/60 2. On May 18, Rumple company paid the account to Tiltskin Company SELLER'S POINT OF VIEW 1. Sold merchandise for cash Cash xxx Sales XXX 2. Sold merchandise on account Accounts Receivable Xxx Sales XXX SELLER'S POINT OF VIEW 3. a. Received defective merchandise on account b. Allowances granted to buyer for the account sales c. Issued a credit to the buyer for merchandise returned Sales Return and Allowances xxx Accounts Receivable xxx SELLER'S POINT OF VIEW 4. Paid cash refund for returned merchandise Sales Returns and Allowances Xxx Cash XXX 5. Transportation charges incurred in selling merchandise Freight-out or Delivery Expense xxx Cash or Accounts Payable xxx SELLER'S POINT OF VIEW 6. Collected account within the discount period arising from the sale of merchandise Cash XXX Sales Discount Xxx Accounts Receivablexxx 7. Collected account after the discount period Cash xxx Accounts Receivablexxx SELLER'S POINT OF VIEW 1. On July 10, Siamese Ket Trading sold merchandising worth 100,000, COD to Des Ket Company. 2. On July15, Persian Ket Trading sold merchandise to Porket Company for 150,000 receiving 20,000 down payment and the balance on account. Terms: 2\/10, 1\/15, n\/60. SELLER'S POINT OF VIEW 3. Persian Ket Trading received defective merchandise worth 10,000 from Porket Company . Persian Ket Trading received a partial of 20,000 from Porket Company . Persian Ket Trading received defective merchandise worth 10,000 from Dee Ket Company and refunded cash for the returns. SELLER'S POINT OF VIEW 6. Paid 3,000 transportation charges for merchandise sold to Porket Company. 7. Received payment from Porket Company on July 30. 8. On Sept. 10, Persian Ket sold merchandise worth 60,000 to Dee Ket company on account. Terms: 3\/EOM, n\/30 9. On Oct.5, Persian Ket received payment from Dee Ket Company",
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"related_book": {
"title": "Global Strategy",
"isbn": "0357512367, 978-0357512364",
"edition": "5th Edition",
"authors": "Mike W. Peng",
"cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/649592eaa157d_32303.jpg",
"uri": "\/textbooks\/global-strategy-5th-edition-9780357512364",
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},
"free_related_book": {
"isbn": "1904312802",
"uri": "\/textbooks\/survival-guide-for-the-skint-how-to-feel-richer-on-your-current-income-1st-edition-978-1904312802-258625",
"name": "Survival Guide For The Skint How To Feel Richer On Your Current Income",
"edition": "1st Edition"
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"question_posted": "2024-06-28 03:48:15",
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