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PLEASE ANSWER IN EXCEL FORMAT. If what I have is wrong please disregard it. AquaZone Company, a manufacturer of water heaters, sold 2,000 units on
PLEASE ANSWER IN EXCEL FORMAT. If what I have is wrong please disregard it.
AquaZone Company, a manufacturer of water heaters, sold 2,000 units on October 2, 2023. The units have a list price of $425 each, but the customer was given a 30% trade discount. The terms of the sale were 2/10,n/30. c. Assume the customer pays the amount due on November 6, 2023. Prepare the journal entry to record the collection. \begin{tabular}{c|c|c|c|} \hline \multicolumn{1}{c}{ Date General Journal } & \multicolumn{2}{c}{ Debit } & \multicolumn{2}{c}{ Credit } \\ \hline \multirow{2}{*}{ November 6, 2023} & Cash & 595,000 & \\ \cline { 2 - 5 } & Accounts receivable & & 595,00 \\ \hline \end{tabular} 2. Assume AquaZone uses the net method of accounting for cash discounts. c. Assume the customer pays the amount due on November 6,2023 . Prepare the journal entry to record the collectionStep by Step Solution
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