1 | ||||
Date | General Journal | Debit | Credit | |
July 15, 2021 | Accounts receivable | 105840 | =1800*60*(1-2%) | |
Sales revenue | 105840 | |||
July 23, 2021 | Cash | 105840 | ||
Accounts receivable | 105840 | |||
2 | ||||
Date | General Journal | Debit | Credit | |
July 15, 2021 | Accounts receivable | 105840 | ||
Sales revenue | 105840 | |||
August 15, 2021 | Cash | 108000 | =1800*60 | |
Accounts receivable | 105840 | |||
Interest revenue | 2160 |
Exercise 7-7 (Algo) Cash discounts; the net method (LO7-3] Harwell Company manufactures automobile tires. On July...
*Nixon Car Company for $40 each Exercise 7-7 (Algo) Cash discounts; the net method [LO7-3] Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 2,300 tires to the Nixon Car Company for $40 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare...
Exercise 7-6 (Algo) Cash discounts; the gross method (L07-3] Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,900 tires to the Nixon Car Company for $35 each. The terms of the sale were 2/20, n/30. Harwell uses the gross method of accounting for cash discounts Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021 2. Prepare the journal entries to record the...
Exercise 7-7 (Algo) Cash discounts; the net method [LO7-3) Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 2,300 tires to the Nixon Car Company for $40 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the...
erk Week 7 0 Saved Exercise 7-6 (Algo) Cash discounts; the gross method (L07-3) Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,900 tires to the Nixon Car Company for $35 each. The terms of the sale were 2/20, n/30. Harwell uses the gross method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 ignore cost of goods and collection on July 23, 2021 2. Prepare the...
please complete both required entries Exercise 7-7 (Algo) Cash discounts; the net method (LO7-3) Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,100 tires to the Nixon Car Company for $60 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 2,900 tires to the Nixon Car Company for $40 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,600 tires to the Nixon Car Company for $40 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
Saved Help Save & Exit Submit Check my work Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,000 tires to the Nixon Car Company for $50 each. The terms of the sale were 2/10,n/30. Harwell uses the net method of accounting for cash discounts Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,300 tires to the Nixon Car Company for $50 each. The terms of the sale were 3/10, n/30. Harwell uses the gross method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,500 tires to the Nixon Car Company for $50 each. The terms of the sale were 3/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...