Question
SodaPop Ltd sells plastic bottles. Wholesale customers that purchase more than 10 000 bottles per month are entitled to a discount of 8% on their
SodaPop Ltd sells plastic bottles. Wholesale customers that purchase more than 10 000 bottles per month are entitled to a discount of 8% on their purchases. On 1 March 2022, Customer P ordered 20 crates of bottles from SodaPop Ltd. Each crate contains 1000 bottles. The normal selling price per crate is $450. SodaPop Ltd delivered the 20 crates on 15 March 2022. Customer P paid for the goods on 15 April 2022. The end of SodaPop Ltds reporting period is 30 June.
Required
Prepare the journal entries to record this transaction by SodaPop Ltd for the year ended 30 June 2022.
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