Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 1,600 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2018,
the company sold 1,600 tires to the Nixon Car Company for $30 each.
The terms of the sale were 2/10, 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,
2018.
2. Prepare the journal entries to record the sale
on July 15 (ignore cost of goods) and collection on August 15,
2018.
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Harwell Company manufactures automobile tires. On July 15, 2018,
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Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 1,200 tires to the Nixon Car Company for $65 each. The terms of the sale were 3/15, 1/30. 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, 2018. 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and...
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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 1,600 tires to the...
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...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 2,900 tires to 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...
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Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,000 tires to the Nixon Car Company for $500 each. The terms of the sale were 2/10, n/30. Harwell uses the gross method of accounting for cash discounts. 1. Prepare the journal entries to record the sale on July 15 and collection on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 and collection on August 15, 2021.
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,300 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,300 tires to the Nixon Car Company for $70 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 sale on July 15 (ignore cost of goods) and...
Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 2,000 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 2,000 tires to the Nixon Car Company for $80 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, 2018, 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,000 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,000 tires to the Nixon Car Company for $500 each. The terms of the sale were 2/10, n/30. Harwell uses the net method of accounting for cash discounts. 1. Prepare the journal entries to record the sale on July 15 and collection on July 23, 2021. 2. Prepare the journal entries to record the sale on July 15 and collection on August 15, 2021.
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,200 tires to the...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,200 tires to the Nixon Car Company for $65 each. The terms of the sale were 3/15, 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...
Exercise 7-6 (Algo) Cash discounts; the gross method (L07-3] Harwell Company manufactures automobile tires. On July...
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...
Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 1,200 tires to the Nixon Car Company for $65 each. The terms of the sale were 3/15, 1/30. 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, 2018. 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 1,300 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 1,600 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...
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 1,300 tires to the Nixon Car Company for $70 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 sale on July 15 (ignore cost of goods) and...
Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 2,000 tires to the Nixon Car Company for $80 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, 2018, 2. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment...
Harwell Company manufactures automobile tires. On July 15, 2021, the company sold 1,200 tires to the Nixon Car Company for $65 each. The terms of the sale were 3/15, 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...
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...
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