cord journal entries for the following sales transactions of Flower Company. Transactions Oct. 12 Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale $700. Oct. 21 Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to Flower Company. Oct. 31 Received payment in full from the October 21 sale. Journal entries:
cord journal entries for the following sales transactions of Flower Company. Transactions Oct. 12 Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale $700. Oct. 21 Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to Flower Company. Oct. 31 Received payment in full from the October 21 sale. Journal entries:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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cord
Transactions
|
Oct. 12 |
Sold 25 bushels of flowers to a customer for $1,000 cash; cost of sale $700. |
|---|---|
|
Oct. 21 |
Sold 40 bushels of flowers for $30 per bushel on credit. Terms of the sale are 4/10, n/30, invoice dated October 21. Cost per bushel is $20 to Flower Company. |
|
Oct. 31 |
Received payment in full from the October 21 sale. |
Journal entries:
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