Question
Q1 BE5.10 (LO 3) AP Prepare journal entries to record the following sales transactions in Dalibor Company's books. Dalibor uses a perpetual inventory system. Mar.
Q1 BE5.10 (LO 3) AP Prepare journal entries to record the following sales transactions in Dalibor Company's books. Dalibor uses a perpetual inventory system. Mar. Dalibor sold $25,000 of merchandise to Jarek Company, terms 2/10, n/30, FOB destination. The cost of the merchandise sold was $13,250. 12 13 The correct company paid freight costs of $265. 14 Jarek returned $2,000 of the merchandise purchased on March 12 because it was damaged. The cost of the merchandise returned was $1,060. Dalibor examined the decided it was no longer it. 22 Dalibor received the balance due from Jarek. Prepare the Journal Entries. a) Which company should pay for the freight? b) How much should Jarek pay (ie. What is the DB to cash in the Mar 22 transaction)?
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