Question
Rally Auto Supplies uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required. June 10 Sold $14,800 of
Rally Auto Supplies uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required.
| June 10 | Sold $14,800 of merchandise on account, credit terms are 3/15, n/30. Cost of goods is $6,200. |
| June 14 | Received a $900 sales return from the customer. Cost of the goods is $400. |
| June 23 | Rally Auto Supplies receives payment for the customer for the amount due from the June 10 sale. |
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Managerial Accounting
Authors: John J. Wild, Ken W. Shaw
2010 Edition
9789813155497, 73379581, 9813155493, 978-0073379586
