Question
On 5 July 2025 a shop owner received $10 cash from a customer who was buying a bar of chocolate. The chocolate bar was priced
On 5 July 2025 a shop owner received $10 cash from a customer who was buying a bar of chocolate. The chocolate bar was priced $6.50 and the owner provided the customer with a 10% discount on the price of the chocolate bar as part of his weekly promotions. The customer was refunded $4.15 for the $10 he gave the shop owner.
Show this transaction in General Journal Entry format from the perspective of:
(i) The Shop Owner
(ii) The Customer
Step by Step Solution
There are 3 Steps involved in it
Step: 1
General Journal Entries Date July 5 2025 Currency USD Shop Owners Perspective Account Debit Credit D...
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Step: 2
Step: 3
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
