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More Info ford entri nale on ac Feb 2 10 11 15 19 Sold merchandise on account to Tod Birch, $900, terms 3/10,n/30. Sold merch
ts. i Requirements Ecord the foregoing at these entries wil any journal entries nandise on account 1. Record the foregoing tr
LUTUN DI ) Question Help Assignments Modern Interiors reported the following transactions in February (Click on the icon to v
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Answer #1

Journal entries

Date General Journal Debit Credit
Feb 2 Account receivable 900
Sales revenue 900
Feb 10 Account receivable 2000
Sales revenue 2000
Feb 11 cash (900*97%) 873
Sales discount 27
Account receivable 900
Feb 15 Sales return and allowance 1400
Account receivable 1400
Feb 19 Cash (600*99%) 594
Sales discount 6
Account receivable 600

b) Amount = Gross Sales-Sales discount = 1500-33 = 1467

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