Question
Jimmy Sing is selling the following items at the list prices shown: wedding gowns at $1,000 each, cocktail dresses at $500 each; party dresses at
Jimmy Sing is selling the following items at the list prices shown: wedding gowns at $1,000 each, cocktail dresses at $500 each; party dresses at $400 each, and flower girl dresses at $200 each. Jimmy made the following credit sales in September 2020:
2020
Sept 1 To Tai Hing Co: 5 wedding gowns, 11 cocktail dresses. Less a 20% trade discount.
" 7 To Wing Tai Co: 6 cocktail dresses, 20 party dresses. Less a 25% trade discount.
" 13 To Tung Sun Ltd: 2 wedding gowns, 30 flower girl dresses. Less a 10% trade discount.
" 23 To Luk Kee: 3 cocktail dresses, 4 party dresses, 5 flower girl dresses. No trade discount was given. 12
(a) Calculate the amount for each of the above sales.
(b) Record the above transactions in the sales journal.
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Introduction To Managerial Accounting
Authors: Peter C. Brewer, Ray H. Garrison, Eric W. Noreen
2nd Edition
0072922990, 9780072922998
