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Sampson Co. sold merchandise to Batson Co. on account, $22,900, terms 2/15, net 45. The cost of the goods sold is $17,175. The Batson Co.
- Sampson Co. sold merchandise to Batson Co. on account, $22,900, terms 2/15, net 45.
- The cost of the goods sold is $17,175.
- The Batson Co. paid the invoice within the discount period.
Assume both Sampson and Batson use a perpetual inventory system.
If no entry is required, select "No entry required" and leave the amount boxes blank.
Prepare the entries that Sampson Company would record for the information above. If an amount box does not require an entry, leave it blank.
a. | fill in the blank a2735ff4a06504a_2 | fill in the blank a2735ff4a06504a_3 | |
fill in the blank a2735ff4a06504a_5 | fill in the blank a2735ff4a06504a_6 | ||
b. | fill in the blank a2735ff4a06504a_8 | fill in the blank a2735ff4a06504a_9 | |
fill in the blank a2735ff4a06504a_11 | fill in the blank a2735ff4a06504a_12 | ||
c. | fill in the blank a2735ff4a06504a_14 | fill in the blank a2735ff4a06504a_15 | |
fill in the blank a2735ff4a06504a_17 | fill in the blank a2735ff4a06504a_18 |
Prepare the entries that Batson Company would record for the information above. If an amount box does not require an entry, leave it blank.
a. | fill in the blank fe782503a007003_2 | fill in the blank fe782503a007003_3 | |
fill in the blank fe782503a007003_5 | fill in the blank fe782503a007003_6 | ||
b. | fill in the blank fe782503a007003_8 | fill in the blank fe782503a007003_9 | |
fill in the blank fe782503a007003_11 | fill in the blank fe782503a007003_12 | ||
c. | fill in the blank fe782503a007003_14 | fill in the blank fe782503a007003_15 | |
fill in the blank fe782503a007003_17 | fill in the blank fe782503a007003_18 |
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