Answered step by step
Verified Expert Solution
Question
1 Approved Answer
prepare the journal entries for the company Presented below is information from Sage Computers Incorporated. 10 July 1 Sold $18,800 of computers to Robertson Company
prepare the journal entries for the company
Presented below is information from Sage Computers Incorporated. 10 July 1 Sold $18,800 of computers to Robertson Company with terms 3/15, 1/60. Sage uses the gross method to record cash discounts. Sage estimates allowances of $1.222 will be honored on these sales. Sage received payment from Robertson for the full amount owed from the July transactions Sold $188,000 in computers and peripherals to The Clark Store with terms of 2/10,1/30. 30 The Clark Store paid Sage for its purchase of July 17. 17 Prepare the necessary journal entries for Sage Computers. Of no entry is required, select "No Entry for the account titles and enter for the amounts . Credit account titles are automatically indented when the amount is entered. Do not indent manual) Date Account Titles and Explanation Debit Credit (To record sales revenue.) (To record allowance for sales returns.) Date Account Titles and Explanation Debit Credit (To record sales revenue.) (To record allowance for sales returns.) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started