Question
Presented below is information from Headland Computers. July 1- Sold R$20,400 of computers to Smallwood Company with terms 3/15, n/60. Headland uses the gross method
Presented below is information from Headland Computers.
July 1- Sold R$20,400 of computers to Smallwood Company with terms 3/15, n/60. Headland uses the gross method to record cash discounts.
10- Headland received payment from Smallwood for the full amount owed from the July transactions.
17- Sold R$204,000 in computers and peripherals to The Hernandez Store with terms of 2/10, n/30.
30- The Hernandez Store paid Headland for its purchase of July 17 Prepare the necessary journal entries for Headland Computers. (There should be four total entries).
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
14th Edition
0324374178, 978-0324374179
