Question
On December 14th, Venus Company sold five (5) air conditioning units to Mars Company for $500 apiece.The sale was made on account with terms net/30.
On December 14th, Venus Company sold five (5) air conditioning units to Mars Company for $500 apiece.The sale was made on account with terms net/30. Venus purchases its air conditioning units for $400 per unit.On December 18th, Mars returned one (1) air conditioning unit to Venus because it was the wrong BTU value. Venus granted Mars full credit for the item returned.This was the only sale made by Venus in December.
What is the sales and gross income?
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Accounting
Authors: Charles T Horngren, Walter T Harrison
9th Edition
132959674, 978-0132569057
