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z SALES TRANSACTIONS July 7 Sold 40 mugs for $15 each to Star Coffee Company, terms FOB destination 1/10, n/EOM The cost of the merchandise
z SALES TRANSACTIONS July 7 Sold 40 mugs for $15 each to Star Coffee Company, terms FOB destination 1/10, n/EOM The cost of the merchandise was $242 00.00 (56.05 each) DR CR July 7 Made arrangement with ABC Trucking Company to have the Tee shirts shipped to our customer July 9 Received telephone call from Star Coffee Company that they were unhappy with the quality of 8 of the mugs they received. Agreed to a price reduction of $2 on each on the four mugs (sales allowance). DR CR July 10 Received a complaint from Star Coffee Company that 4 of the mugs had broken handles and agreed to the return of the merchandise. (sales return) DR CR July 14 Paid ABC Trucking Company $20 shipping charge on the July 7th sale. DR CR July 15 Received payment from Star Coffee Company within the discount period. (Sales discount) DR CR Orig sale Less allow Less return Bal due Discount = 1% Check = 99%
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