Question
the following transactions occurred between home office and Cairo branch 1- home office sent cash 10000 to the branch 2- home office sent goods of
the following transactions occurred between home office and Cairo branch
1- home office sent cash 10000 to the branch
2- home office sent goods of 20000 cost plus a markup of 10% to the branch
3- the branch sold goods costing 15000 for 36000
4- the branch returned merchandise priced at 3300 to home office , remember that goods were shipped from home office to branches at a cost plus a markup of 10%
5- home office collected cash for 5000 for branch customers
Required:
Prepare journal entries in the accounting records of both home office and cairo branch
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