Term 3/15 means, customer will get a cash discount of 3% if they paid within 15 days
Date | General Journal | Debit | Credit |
Jul-01 | Accounts receivable | $ 22,800 | |
Sales | $ 22,800 | ||
Jul-10 | Cash ($22,800*97%) | $ 22,116 | |
Sales discount | $ 684 | ||
Accounts receivable | $ 22,800 | ||
Jul-17 | Accounts receivable | $ 228,000 | |
Sales | $ 228,000 | ||
Jul-30 | Cash | $ 228,000 | |
Accounts receivable | $ 228,000 |
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ints Question 7 View Policies Current Attempt in Progress counting Updates Presented below is information from...
Question 12 --/1 View Policies Current Attempt in Progress Presented below is information from Indigo Computers Incorporated. July 1 Sold $16,800 of computers to Robertson Company with terms 3/15, n/60. Indigo uses the gross method to record cash discounts. Indigo estimates allowances of $1,092 will be honored on these sales. 10 Indigo received payment from Robertson for the full amount owed from the July transactions. 17 Sold $168,000 in computers and peripherals to The Clark Store with terms of 2/10,...
Presented below is information from Teal Computers Incorporated. July 1 Sold $19,600 of computers to Robertson Company with terms 3/15, n/60. Teal uses the gross method to record cash discounts. Teal estimates allowances of $1,274 will be honored on these sales. 10 Teal received payment from Robertson for the full amount owed from the July transactions. 17 Sold $196,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Teal for its...
Presented below is information from Metlock Computers Incorporated. July 1 Sold $16,000 of computers to Robertson Company with terms 3/15, 1/60. Metlock uses the gross method to record cash discounts. Metlock estimates allowances of $1,040 will be honored on these sales. Metlock received payment from Robertson for the full amount owed from the July transactions Sold $ 160,000 in computers and peripherals to The Clark Store with terms of 2/10, 1/30. The Clark Store paid Metlock for its purchase of...
Presented below is information from Wildhorse Computers Incorporated. July 1 Sold $20,800 of computers to Robertson Company with terms 3/15, n/60. Wildhorse uses the gross method to record cash discounts. Wildhorse estimates allowances of $1,352 will be honored on these sales. 10 Wildhorse received payment from Robertson for the full amount owed from the July transactions. 17 Sold $208,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Wildhorse for its...
Presented below is information from Metlock Computers Incorporated. July 1 10 Sold $23,200 of computers to Robertson Company with terms 3/15, n/60. Metlock uses the gross method to record cash discounts. Metlock estimates allowances of $1,508 will be honored on these sales. Metlock received payment from Robertson for the full amount owed from the July transactions. Sold $232,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. The Clark Store paid Metlock for its purchase of...
Exercise 7-06 Presented below is information from Tamarisk Computers Incorporated. July 1 10 17 30 Sold $18,000 of computers to Robertson Company with terms 3/15, n/60. Tamarisk uses the gross method to record cash discounts. Tamarisk estimates allowances of $1,170 will be honored on these sales. Tamarisk received payment from Robertson for the full amount owed from the July transactions. Sold $180,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. The Clark Store paid Tamarisk...
Presented below is information from Metlock Computers Incorporated. July 1 Sold $22,300 of computers to Robertson Company with terms 2/15, n/60. Metlock uses the gross method to record cash discounts. Metlock estimates allowances of $1,254 will be honored on these sales. 10 Metlock received payment from Robertson for the full amount owed from the July transactions. 17 Sold $292,800 in computers and peripherals to The Clark Store with terms of 1/10, n/30. 30 The Clark Store paid Metlock for its...
Presented below is information from Cheyenne Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with terms 3/15, 1/60. Cheyenne uses the gross method to record cash discounts. Cheyenne estimates allowances of $1,300 will be honored on these sales. 10 Cheyenne received payment from Robertson for the full amount owed from the July transactions. 17 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10,n/30. 30 The Clark Store paid Cheyenne for its purchase...
Presented below is information from Shefield Computers Incorporated าง y 1 Sold S22,000 of computers to Robertson Company with terms rīs r 60 Sheffield uses the gross method to record cash discounts. Shoffield estimates allo ances of $1,171 wAV be honored on these sales. 10 Sheffield recelived payment from Robertson for the full amount owed from the July transactions. 7 Sold $215,600 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 0 The Clark Store paid...
Question 2 View Policies Current Attempt in Progress At the beginning of the current season on April 1, the ledger of Crane Pro Shop showed Cash $2,910; Inventory $3.500, and Common Stock $6,410. The following transactions were completed during April 2022 Apr.5 Purchased golf bags, clubs, and balls on account from Arnie Co $1,900, terms 3/10, 1/60 7 Paid freight on Arnie purchase $80. 9 Received credit from Arnie Co. for merchandise returned $500. 10 Sold merchandise on account to...