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Presented below is information from Riverbed Computers incorporated. July 1 Sold 523,600 of computers to Robertson Company with terms 3/15./60. Riverbed uses the gross method
Presented below is information from Riverbed Computers incorporated. July 1 Sold 523,600 of computers to Robertson Company with terms 3/15./60. Riverbed uses the gross method to record cash discounts Riverbed estimates allowances of $1,534 will be honored on these sales. 10 Riverbed received payment from Robertson for the full amount owed from the July transactions 17 Sold $236,000 in computers and peripherals to The Clark Store with terms of 2/10, 1/30, 30 The Clark Store paid Riverbed for its purchase of July 17. Prepare the necessaryjournal entries for Riverbed Computers, if no entry is required, select "No Entry for the account titles and entero for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit (To record sales revenue.) (To record allowance for sales retums.)
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