Question
Presented below are transaction related to the Bogner Company. 1. On December 3, Bogner Company sold $602,100 of merchandise to Maris Co., terms 2/10, n/30,
Presented below are transaction related to the Bogner Company.
| 1. | On December 3, Bogner Company sold $602,100 of merchandise to Maris Co., terms 2/10, n/30, FOB shipping point. The cost of the merchandise sold was $351,000. | |
| 2. | On December 8, Maris Co. was granted an allowance of $29,800 for merchandise purchased on December 3. | |
| 3. | On December 13, Bogner Company received the balance due from Maris Co.
Prepare the journal entries to record these transactions on the books of Bogner Company using a perpetual inventory system. |
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Management Accounting And Strategic Human Resource Management
Authors: John Innes, Reza Kouhy
1st Edition
1859714862, 978-1859714867
