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Presented below is information from Bonita Computers Incorporated. July 1 Sold $19,200 of computers to Robertson Company with terms 3/15,n/60. Bonita uses the gross method
Presented below is information from Bonita Computers Incorporated. July 1 Sold $19,200 of computers to Robertson Company with terms 3/15,n/60. Bonita uses the gross method to record cash discounts. Bonita estimates allowances of $1,248 will be honored on these sales. (Bonita records these estimates at point of sale.) 10 Bonita received payment from Robertson for the full amount owed from the July transactions. 17 Sold $192,000 in computers and peripherals to The Clark Store with terms of 2/10,n/30. 30. The Clark Store paid Bonita for its purchase of July 17. Prepare the necessary journal entries for Bonita Computers. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit occount titles are automatically indented when the amount is entered. Do not indent manually, tist aff debit entries before credit entries, Record journal entries in the order presented in the problem.) (To record sales revenue.) (To record allowance for sales returns.)
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