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The following are selected transactions of Wilson Inc. Sold on account to Acme Stores merchandise for $900 Terms FOB shipping point 2/10, n/30. The freight
The following are selected transactions of Wilson Inc. Sold on account to Acme Stores merchandise for $900 Terms FOB shipping point 2/10, n/30. The freight charges Paid were $85. Merchandise cost $600. Sold to Acme goods for cash $300 (cost $200) with terms FOB Destination. Freight paid was $50. Acme stores returned $100 of merchandise for credit. Merchandise cost was $65. Received a check from Acme Stores for Payments in full For April 20th Sale. REQUIRED: Prepare the journal entries for the above transactions As they would appear on the accounting records of: Wilson Inc. Acme Stores
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