Question
Make the following purchases, sales, and returns entries. Ferretera Amigos carried out the following transactions during the month of March: 2 $ 12,000 in inventory
Make the following purchases, sales, and returns entries. FerreterÃa Amigos carried out the following transactions during the month of March:
2 $ 12,000 in inventory was purchased on credit with a term of 2/13 n / 30 and FOB shipping point.
4 Merchandise was returned for $ 400 from the purchase made on March 2 because it was defective.
6 Shipping for the purchase of inventory purchased on March 2 was paid.
11 Inventory was sold on credit to a customer for $ 5,000 with a sell term of 2/10 n / 30.
12 The amount owed for the purchase of March 2 was paid.
15 Customer was offered an allowance on the March 11 purchase.
20 The customer who made the purchase on the 11th paid in full with the corresponding discounts.
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
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