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What are the adjusting entries for the following? -As of and for the period ended December 31, 2018 Sales returns for P45,000 was received and
What are the adjusting entries for the following?
-As of and for the period ended December 31, 2018
- Sales returns for P45,000 was received and recorded on January 6, 2018. These returns are related to sales made on December 30,2017.
- Sales returns related to 2018 sales, P30,000, were received on January 2, 2019.
- The entity sells at 2/10, n/30. Receivables totaling to P170,000 were collected in the period from January 1 to January 10, 2019. These receivables are related to 2018 sales and are all within the discount period.
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Business Law
Authors: Henry Cheeseman
10th Edition
0134728785, 978-0134728780
