ProBuilder has the following June 30 fiscal-year-end unadjusted balances: Allowance for Sales Discounts, $0; and Accounts...
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ProBuilder has the following June 30 fiscal-year-end unadjusted balances: Allowance for Sales Discounts, $0; and Accounts Receivable, $12,000. Of the $12,000 of receivables, $3,000 are within a 3% discount period, meaning that it expects buyers to take $90 in future discounts arising from this period's sales. a. Prepare the June 30 fiscal-year-end adjusting journal entry for future sales discounts. View transaction list Journal entry worksheet Record the expected sales discounts. Note: Enter debits before credits. Date June 30 General Journal Debit Credit ProBuilder has the following June 30 fiscal-year-end unadjusted balances: Allowance for Sales Discounts, $0; and Accounts Receivable, $12,000. Of the $12,000 of receivables, $3,000 are within a 3% discount period, meaning that it expects buyers to take $90 in future discounts arising from this period's sales. a. Prepare the June 30 fiscal-year-end adjusting journal entry for future sales discounts. View transaction list Journal entry worksheet Record the expected sales discounts. Note: Enter debits before credits. Date June 30 General Journal Debit Credit
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