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Record the followingjournal entries. July 3 Purchased merchandise on account from Sunshine Corp, for $85,000, terms FOB destination, 2/10, n/30. Sold merchandise on account to
Record the followingjournal entries. July 3 Purchased merchandise on account from Sunshine Corp, for $85,000, terms FOB destination, 2/10, n/30. Sold merchandise on account to Harley Co, $15,600 with terms 5/10, n/60. The cost of goods sold was $9,600. 6 Returned merchandise with a list price of 18,000, purchased on July 3 from Sunshine Corp. 12 Paid Sunshine Corp for 7/3 purchase, less return of 7/6. 10 Received cash on account from sale on 7/4 to Harley Co
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