Answer
General Journal
No. | Date | Account Title & Explanation | Debit | Credit |
1) | June-3 | Account Receivable Dr. | $ 5,600 | |
To Sales | $ 5,600 | |||
(To Record Sales on Account) | ||||
June-12 | Cash Dr. ($ 5,600 - $ 112) | $ 5,488 | ||
Sale Discount Dr. ($ 5,600 * 2%) | $ 112 | |||
To Account Receivable | $ 5,600 | |||
(To Record the receipt of Payment) | ||||
2) | June-03 | Account Receivable Dr. ($5,600 * 98%) | $ 5,488 | |
To Sales ($5,600 * 98%) | $ 5,488 | |||
(To Record Sales on Account) | ||||
June-12 | Cash Dr. | $ 5,488 | ||
To Accounts Receivable | $ 5,488 | |||
(To Record the Receipt of Payment) |
No. | Date | Account Title & Explanation | Debit | Credit |
3) | July-29 | Cash Dr. | $ 5,600 | |
To Accounts Receivable | $ 5,488 | |||
To Sales Discount Forfeited | $ 112 | |||
(To record the receipt of payment) |
On June 3. Sheridan Company sold to Chester Company merchandise having a sale price of $5,600...
On June 3, Riverbed Company sold to Chester Company merchandise having a sale price of $5,600 with terms of 2/10,n/60,fo.b. shipping point. An invoice totaling $92, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Riverbed Company books to record all the events noted above under each of the following bases....
On June 3, Sheridan Company sold to Chester Company merchandise having a sale price of $5,600 with terms of 2/10,n/60, fo.b. shipping point. An invoice totaling $93, terms 1/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. (a) Prepare journal entries on the Sheridan Company books to record all the events noted above under each of the...
On June 3, Waterway Company sold to Chester Company merchandise having a sale price of $6,000 with terms of 4/10,n/60.f.0.b. shipping point. An invoice totaling $93, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Your answer is correct. Prepare journal entries on the Waterway Company books to record all the events noted above under each...
On June 3, Pina Company sold to Chester Company merchandise having a sale price of $3,300 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $94, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Pina Company books to record all the events noted above under each of the...
On June 3, Whispering Company sold to Chester Company merchandise having a sale price of $6,000 with terms of 4/10,n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company Prepare journal entries on the Whispering Company books to record all the events noted above under each of the following...
On June 3, Sheffield Company sold to Chester Company merchandise having a sale price of $4,600 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $94, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Sheffield Company books to record all the events noted above under each of the...
Exercise 7-05 On June 3, Sarasota Company sold to Chester Company merchandise having a sale price of $2,800 with terms of 4/10, n/60, f.o.b. shipping point. An invoice totaling $98, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Sarasota Company books to record all the events noted above under each...
On June 3, Riverbed Company sold to Chester Company merchandise having a sale price of $5.600 with terms of 2/10,n/60, f.o.b. shipping point. An invoice totaling $92, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company. Prepare journal entries on the Riverbed Company books to record all the events noted above under each of the following...
On June 3, Oriole Company sold to Chester Company merchandise having a sale price of $3,600 with terms of 2/10, 1/60, fo.b. shipping point. An invoice totaling $93, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company Prepare journal entries on the Oriole Company books to record all the events noted above under each of the...
Ананні пи Exercise 7-5 On June 3, Teal Company sold to Chester Company merchandise having a sale price of $5,600 with terms of 2/10, V60, fo.b. shipping point. An invoice totaling 593, terms 130, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company Prepare journal entries on the Teal Company books to record at the events noted above...