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?

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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