Question
On June 10, Diaz Company purchased $8,500of merchandise from Taylor Company, FOB shipping point, terms2/10, n/30. Diaz pays the freight costs of $520on June 11.
On June 10, Diaz Company purchased $8,500of merchandise from Taylor Company, FOB shipping point, terms2/10, n/30. Diaz pays the freight costs of $520on June 11. Damaged goods totaling $470are returned to Taylor for credit on June 12. The fair value of these goods is $70. On June 19, Diaz pays Taylor Company in full, less the purchase discount. Both companies use a perpetual inventory system.
I just need help with June 19
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
