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The following are the operations of Al-Nasr Al-Salam Company for the month of January 2022: 1-January Al-Nasr Company purchased goods from Al-Salam Company on the
The following are the operations of Al-Nasr Al-Salam Company for the month of January 2022:
1-January Al-Nasr Company purchased goods from Al-Salam Company on the account, estimated at 8000 dinars, with a cash discount of 5% if the payment was made within 15 days.
5- January, Al-Nasr Company purchased goods in cash from Al-Salam Company amounting to 50,000 units, knowing that the price of one unit is 1 dinars, and Al-Salam Company grants its customers a quantity discount on its sales on this date according to the following categories:
5% on 5000 units
10% on the next 10,000 units
20% on the next 20,000 units
30% on more than that
January 10 - Al-Nasr Company paid half of its due to Al-Salam Company by check.
January 15 - Al Nasr Company paid the remaining amounts due to Al Salam Company in cash.
30-January Al-Nasr Company purchased goods from Al-Salam Company with a check valued at 30,000 dinars, with a commercial discount of 20%
Required: As an accountant, use the basic skills of accountant work and record previous transactions in the journal of Al-Nasr Company (the buyer) and Al-Salam Company (the seller).
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