Question
Prepare journal entries 12. Computers pertaining to the order placed on September 17, were delivered to the customer on September 27. The customer agreed to
Prepare journal entries
12. Computers pertaining to the order placed on September 17, were delivered to the customer on September 27. The customer agreed to pay in five days. (Assume that this meets the criteria for revenue recognition, so we can record the sale.)
13. On September 28, Mavtech purchased office supplies inventory for $350 by paying cash.
14. On September 29, Mavtech sold 15 computers at a total price of $20,700 for cash. (In the previous parts of the assignment, we saw that each computer in Mavtech's inventory was $1,000.)
15. Miscellaneous expenses of $650 were incurred during September. These expenses were paid in cash.
16. On September 29th, Mavtech received $5,400 as payment in advance from a customer for 3 computers to be delivered on October 4. (Assume that this does not meet the criteria for revenue recognition, so we cannot record a sale.)
17. On September 30, Rachel took $500 from Mavtech as dividends in cash.
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