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prepare the journal entries e les teves Sales allowances: DR Sales Returns and Allowances CR Accounts Receivable Transportation-out (Freight-out) costs: to 10.000m2 Transportation-in (Freight-in) costs:
prepare the journal entries
e les teves Sales allowances: DR Sales Returns and Allowances CR Accounts Receivable Transportation-out (Freight-out) costs: to 10.000m2 Transportation-in (Freight-in) costs: DR Inventory OR Transportation-in Cr Cash DR Delivery Expense Cr Cash payment the can Woll paymen 1, the puls will pass he receipt of the po Highlander Pub un rec tion another conte from gross part of the Practice exercise] These are selected transactions completed during June between Schnaps Co. and Brandy Co.: June 2 Schnaps Co. sold merchandise on account to Brandy Co., $24,000, terms FOB shipping point, 2/10, n/30. Schnaps Co. paid transportation costs of $530, which were added to the invoice. The cost of the merchandise sold was $13,000. 8 Schnaps Co, sold merchandise on account to Brandy Co., $12,500, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $7,500. 8 Schnaps Co, paid transportation costs of $550 for delivery of merchandise sold to Brandy Co. on June 8. 12 Brandy Co. returned $3,000 of merchandise purchased on account on June 8 from Schnaps Co. The cost of the merchandise returned was $1,800. 12 Brandy Co. paid Schnaps Co. for purchase of June 2, less discount. 23 Brandy Co. paid Schnaps Co. for purchase of June 8, less discount and less return of June 12. counts n determi ams and samem XPEN Sany intent gular 24 / Schnaps Co. sold merchandise on account to Brandy Co., $10,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $6,000. 26 Brandy Co. paid transportation charges of $310 on June 24 purchase from Schnaps Co. 30 Brandy Co. paid Schnaps Co. on account for purchase of June 24. Page 2 of 4 Step by Step Solution
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