I'm having trouble with one specific part of this accounting journal:
The specific one I'm having trouble finding is 17 -- I don't even know how I get the $5,050 for Accounts Receivable. Can someone provide help/insight to this with explanations? Thank you so much.
Purchased merchandise from Norris, Inc., $4,000, terms 2/10, n/30. 5 Paid freight on shipment from Norris, Inc., $220. 7 Sold merchandise to Denton Corporation, $5,500 ($4,100 cost) 7 Paid $300 freight on August 7 shipment and billed Denton for the charges. Aug. 1 Returned $800 worth of the merchandise purchased August 1 from Norris, Inc., because it was defective. Norris approved the return. 9 Received $750 of returned merchandise ($500 cost) from Denton Corporation. Rockford approved the return. 10 Paid Norris, Inc., the amount due. 14 Purchased from Chambers, Inc., goods with a price of $9,000. Terms 1 /10, n/30. 15 Paid freight on shipment from Chambers, Inc., $320. 17 Received the amount due from Denton Corporation. 18 Sold merchandise to Weber, Inc., $9,600 ($6,600 cost) 20 Paid $350 freight on August 18 shipment and billed Weber for the charges. 24 Paid Chambers, Inc., the amount due. 28 Received the amount due from Weber, Inc. 17 Cash Sales Discounts Accounts Receivable 5,050 Received amount due from Denton Corporation Purchased merchandise from Norris, Inc., $4,000, terms 2/10, n/30. 5 Paid freight on shipment from Norris, Inc., $220. 7 Sold merchandise to Denton Corporation, $5,500 ($4,100 cost) 7 Paid $300 freight on August 7 shipment and billed Denton for the charges. Aug. 1 Returned $800 worth of the merchandise purchased August 1 from Norris, Inc., because it was defective. Norris approved the return. 9 Received $750 of returned merchandise ($500 cost) from Denton Corporation. Rockford approved the return. 10 Paid Norris, Inc., the amount due. 14 Purchased from Chambers, Inc., goods with a price of $9,000. Terms 1 /10, n/30. 15 Paid freight on shipment from Chambers, Inc., $320. 17 Received the amount due from Denton Corporation. 18 Sold merchandise to Weber, Inc., $9,600 ($6,600 cost) 20 Paid $350 freight on August 18 shipment and billed Weber for the charges. 24 Paid Chambers, Inc., the amount due. 28 Received the amount due from Weber, Inc. 17 Cash Sales Discounts Accounts Receivable 5,050 Received amount due from Denton Corporation
