The following sale-related transactions for Olympia Hardware, Inc., occurred during the month of October. Oct 3 Sold
Question:
The following sale-related transactions for Olympia Hardware, Inc., occurred during the month of October.
Oct 3 Sold $3,300 (cost $2,100) of merchandise on account to C. Williams.
Terms, 1/15. n/45. FOB destination.
4 Paid $75 to ship the goods sold on October 3 to C. Williams,
10 Sold $2,700 (cost $1,650) of merchandise to cash customers.
17 Received payment in full from C Williams for the October 3 sale.
22 Sold $4,700 (cost S2800) of merchandise on account to S. Gomez.
Terms, 2/10. n/30. FOB shipping point.
26 Granted S. Gomez a $300 allowance on the October 22 sale due to minor defects in the goods shipped
30 Received payment in full from S Gomez for the October 22 sale
Requirement
Journalize the transactions for Olympia Hardware, Inc. Omit explanations?
Step by Step Answer: