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.. Record the following transactions of October 2020 related to Khayat Company: Oct, 1 D Oct, 8 Oct, 13 Sold SR15,000 of merchandise in cash
.. Record the following transactions of October 2020 related to Khayat Company: Oct, 1 D Oct, 8 Oct, 13 Sold SR15,000 of merchandise in cash and sold SR50,000 of merchandise on credit to Al-Ghamdi Ltd., terms 3/10,n/30. Received payment in full from Al-Ghamdi Ltd. for the balance due. The credit manager of the company estimated that uncollectable amount is 1% of credit sales. The credit sales balance is SR150,000 The management decided to write off SR250 of uncollectable accounts receivable. The company sold accounts receivable of SR10,000 for a service charge fee of 2% Oct, 20 E 3 Oct, 29 TE
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