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Presented below are transactions related to R. Humphrey Company. 1. On December 3, R. Humphrey Company sold $586,700 of merchandise to Frazier Co., terms 4/10,
Presented below are transactions related to R. Humphrey Company.
| 1. | On December 3, R. Humphrey Company sold $586,700 of merchandise to Frazier Co., terms 4/10, n/30, FOB destination. R. Humphrey paid $400 for freight charges. The cost of the merchandise sold was $391,300. | |
| 2. | On December 8, Frazier Co. was granted an allowance of $28,000 for merchandise purchased on December 3. | |
| 3. | On December 13, R. Humphrey Company received the balance due from Frazier Co. |
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The Volunteers Audit Guide For Churches And Other Non Profits A Step By Step Workbook For Internal Reviews Of Non Profit Organizations
Authors: Edd Breeden
1st Edition
1079582401, 978-1079582406
