Question

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BOOR Show Me HOW பேன் FIL Sales-related transactions Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of the goods sold was $58,000. a. Journalize Sayers' entries to record the sale, using the net method under a perpetual inventory system. If an amount box does not require an entry. leave it blank. Accounts Receivable Sales Il Cash Accounts Payable b. Journalize the receipt of payment within the discount period. If an amount box does not require an entry, leave it blank. Cash Accounts Receivable c. Journalize the entry to record the receipt of payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank. Sales Accounts Receivable Cash Activate Windows

Answer 1

DATHI JOURNAL PARTICULARS DEBIT CREDIT asy Accounts Receivable ĄC ...Dr 80,000 To Sales Revenue to 80,000 To record sale merchandise on credit) by Cast of Goods Sold Ac Dr. 58000 To Merchandise Inventory My 58,000 ( To record cast of merchandise sold) .Dr. 78,400 Sales Discounts wc ($ 80,000 2%)... Dr 1,600 To Accounts Receivable to 80,000 Ko xecord customer payment with the 2% discount) (2) Cash C ...Dr. 80,000 To Accounts Receivable Ac 80,000 To record customer payment without 2% discount) y Cash Ac