Question
On December 18, Bigfoot Sodas makes a sale to QuickmartUSA. The sale is for $28,000, with terms 2/10, n/30. The COGS of the sale was
On December 18, Bigfoot Sodas makes a sale to QuickmartUSA. The sale is for $28,000, with terms 2/10, n/30. The COGS of the sale was $5,200. Assume a perpetual inventory system. Record the sale and expense on December 18. If QuickmartUSA pays the invoice on Dec 30, what is the journal entry to record the payment?
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Cost Accounting With Integrated Data Analytics
Authors: Karen Congo Farmer, Amy Fredin
1st Edition
1119731860, 9781119731863
