There were no sale discounts taken Bolton sold a customer service contract with a price of...
There were no sale discounts taken
Bolton sold a customer service contract with a price of $41,000 to Sammy's Wholesale Company. Bolton offered terms of 1/10, n/30 and expects Sammy to pay within the discount period.
Prepare the journal entry assuming the payment is made after 10 days (after the discount period). If an amount box does not require an entry, leave it blank.
Homework Answers
| No | Account Titles | Debit | Credit |
| 1 | Cash | $41,000 | |
| Accounts Receivable | $41,000 | ||
| (To record payment received after the discount period) | |||
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There were no sale discounts taken
Bolton sold a customer service contract with a price of...
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Cornerstone Exercise 5-24 (Algorithmic) Sales Discounts Not Token Bolton sold a customer service contract with a price of $40,000 to Sammy's Wholesale Company. Bolton offered terms of 1/10, 1/30 and expects Sammy to pay within the discount period. Required: Prepare the journal entry assuming the payment is made after 10 days after the discount period). If an amount box does not require an entry, leave it blank. Cash 39,600 Sales Discounts x 400 Accounts Receivable 40,000 X Record collection within...
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please fix any errors and fill in all parts. thank you
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please fix any errors and fill in all parts. thank you
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