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On January 9, Ecurb Company sells goods on credit to Snimak Company for $7,000, terms 1/10, n/60. Ecurb receives payment on January 18. The entry
On January 9, Ecurb Company sells goods on credit to Snimak Company for $7,000, terms 1/10, n/60. Ecurb receives payment on January 18. The entry by Ecurb on January 18 is: O Dr. Cash. 7,000 Dr. Sales Discounts........ 70 Cr. Accounts Receivable........... 6,930 O Dr. Cash....... 6,930 Cr. Accounts Receivable........ 6,930 O Dr. Cash............. 6,930 Dr. Sales Discounts.... 70 Cr. Accounts Receivable..... 7,000 Dr. Cash.............. 7,070 Cr. Sales Discounts..... 70 Cr. Accounts Receivable..... 7,000
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