Question
Presented below is information from Whispering Computers Incorporated. July 1 Sold $16,800 of computers to Robertson Company with terms 3/15, n/60. Whispering uses the gross
Presented below is information from Whispering Computers Incorporated.
| July 1 | Sold $16,800 of computers to Robertson Company with terms 3/15, n/60. Whispering uses the gross method to record cash discounts. Whispering estimates allowances of $1,092 will be honored on these sales. | |
| 10 | Whispering received payment from Robertson for the full amount owed from the July transactions. | |
| 17 | Sold $168,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. | |
| 30 | The Clark Store paid Whispering for its purchase of July 17. |
Prepare the necessary journal entries for Whispering Computers.
| Date | Account Titles and Explanation | Debit | Credit | |
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| (To record sales revenue.) | ||||
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| (To record allowance for sales returns.) | ||||
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People Centric Skills Interpersonal And Communication Skills For Financial Professionals
Authors: Danny M. Goldberg
2nd Edition
1119669308, 978-1119669302
