Question
Soda Ltd sells plastic bottles. Wholesale customers that purchase more than 8000 bottles per month are entitled to a discount of 4% on their purchases.
Soda Ltd sells plastic bottles. Wholesale customers that purchase more than 8000 bottles per month are entitled to a discount of 4% on their purchases. On 1 March 2019, Customer P ordered 15 crates of bottle from Soda Ltd. Each crate contains 2000 bottles. the normal selling price per crate is $300. Soda Ltd delivered the 15 crates on 15 March 2019. Customer P paid for the goods on 15 April 2019. The end of Soda Ltd's reporting period is 30 June. Prepare the journal entries to record this transaction by Soda Ltd for the year ended 30 June 2019.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started