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On April 1, Moloney Musical Instruments sold merchandise on account to Fronke's Flutes for $7,000 on Invoice 1001, terms 2/10, n/30. Payment was received
On April 1, Moloney Musical Instruments sold merchandise on account to Fronke's Flutes for $7,000 on Invoice 1001, terms 2/10, n/30. Payment was received in full from Fronke's Flutes, less discount, on April 10. Required: Record the transactions on April 1 and April 10. > Answer is not complete. No 1 Date April 01 General Journal Debit Credit Accounts receivable/Fronke's Flutes 7,000 Sales 7,000 2 April 10 Cash 7,000 Accounts receivable/Fronke's Flutes Sales discounts 6,860 140
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