Question
- Which accounts should be credited or debited using journal entries? June 10 The delivery of Job 30 was held up due to a property
- Which accounts should be credited or debited using journal entries?
June 10 The delivery of Job 30 was held up due to a property alignment issue at the delivery site. Job 30 was delivered to the job site, today. Sales invoice SF146 lists the sales price for the job at $10,000. The customer paid with a check upon delivery.
June 10 Job 31 was delivered to the job site. Sales invoice SF147 lists the sales price for the job at $56,789.00. The customer paid with a certified check upon delivery.
June 10
A check was received from Larson Pools, Inc. as full payment of their account. The account balance of $4,280.00 was written off as uncollectible on May 2 of this quarter. Summerset Fencing uses the direct write off method. Two entries are required.
June 11 Sold 6,000 shares of PKL Corporation common stock held as a short-term investment. The stock was purchased for $24,000.00 and is being sold for $4.75 per share, less a sales commission of $480.00.
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