Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory system.
Question:
DATE TRANSACTIONS
2019
June 5 Sold merchandise on account to Benson Company; issued Sales Slip 1200 for $975, terms n/30. The cost of the merchandise sold was $683.
15 Recorded cash sales, $1,940. The cost of merchandise sold was $1,358.
30 Received payment on account due from Benson Company for the sale on June 5.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For 
College Accounting A Contemporary Approach
ISBN: 978-0077639730
4th edition
Authors: David Haddock, John Price, Michael Farina
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