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Suppose Online Books sells 2 , 0 0 0 books on account for $ 1 9 each ( cost of these books is $ 2
Suppose Online Books sells books on account for $ each cost of these books is $ on October to The Book Store. Several books were slightly damaged in shipment, so Online Books granted a sales allowance of $ to The Book Store on October On October The Book Store paid the balance due. Assume both companies use a perpetual inventory system. Read the requirements.
Requirement Journalize The Book Store's October transactions. Record debits first, then credits. Exclude explanations from journal entries.
Oct. Online Books sells books on account for $ each on October to The Book Store. Record the transaction on the books of The Book Store
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