Question
On March 2, Cullumber Company sold $835,000 of merchandise to Bramble Company, terms 2/10, n/30. The cost of the merchandise sold was $585,000. (Credit account
On March 2, Cullumber Company sold $835,000 of merchandise to Bramble Company, terms 2/10, n/30. The cost of the merchandise sold was $585,000. (Credit account titles are automatically indented when amount is entered. Do not indent manuall Account Titles and Explanation Accounts Receivable Sales (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Debit 835000 Credit 835000 585000 585000 On March 6, Bramble Company returned $83,500 of the merchandise purchased on March 2. The cost of the returned merchandise was $56,800. (Credit account titles are automatically indented when amount is entered. Do not indent manually)005 Account Titles and Explanation Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Inventory Cost of Goods Sold (To record cost of merchandise returned) Debit 83500 Credit 83500 56800 56800 On March 12, Cullumber Company received the balance due from Bramble Company. (Credit account titles are automatically Indented when amount is entered. Do not indent manually) Account Titles and Explanation Accounts Payable Sales Discounts Cash Debit Credit 751500 15030 736470
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