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Tamarisk sells its specialty combination gas/wood-fired grills to local restaurants. Each grill is sold for $1,090 (cost $507 ) on credit with terms 2/30, net/90.
Tamarisk sells its specialty combination gas/wood-fired grills to local restaurants. Each grill is sold for $1,090 (cost $507 ) on credit with terms 2/30, net/90. Prepare the journal entries for the sale of 20 grills on September 1, 2020, and upon payment, assuming the customer paid on (1) September 25, 2020, and (2) October 15, 2020. Assume the company records sales net. (Credit account tilles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the occount tilles and enter 0 for the amounts) Cash Accounts Receivable Accounts Receivable Sales Revenue (To record sales) Cost of Goods Sold 10140 Imventory ( To record cost of goods sold) Cash Accounts Recelvable Sales Discounts Forfelted
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