Question 9

Transactions for Buyer and Seller are taken. Grayson Co. sold merchandise to Angelleti Co. on account, $147,800, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $88,680. Grayson Co. paid freight of $2,200. Assume that all discounts Journalize Grayson Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b) (c) Journalize Angelleti Co.'s entries for (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it blank. (a) ( b ) Previous Next >