E7.6 (LO 2) (Recording Sales Transactions) Presented below is information from Perez Computers Incorporated. Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to reobrd cash discounts. Perez estimates allowances of $1,30o will be honored on these sales. July Perez received payment from Robertson for the full amount owed from the July transactions. 10 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 17 30 The Clark Store paid Perez for its purchase of July 17. Instructions Prepare the necessary journal entries for Perez Computers.
E7.6 (LO 2) (Recording Sales Transactions) Presented below is information from Perez Computers Incorporated. Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to reobrd cash discounts. Perez estimates allowances of $1,30o will be honored on these sales. July Perez received payment from Robertson for the full amount owed from the July transactions. 10 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 17 30 The Clark Store paid Perez for its purchase of July 17. Instructions Prepare the necessary journal entries for Perez Computers.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
![E7.6 (LO 2) (Recording Sales Transactions) Presented
below is information from Perez Computers Incorporated.
Sold $20,000 of computers to Robertson Company
with terms 3/15, n/60. Perez uses the
gross method to reobrd cash discounts. Perez
estimates allowances of $1,30o will be honored
on these sales.
July
Perez received payment from Robertson for the full
amount owed from the July transactions.
10
Sold $200,000 in computers and peripherals to The
Clark Store with terms of 2/10, n/30.
17
30
The Clark Store paid Perez for its purchase of July
17.
Instructions
Prepare the necessary journal entries for Perez Computers.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb63ceb03-d098-4c6f-a4fd-03e061664046%2Fcb82b18c-a985-4c2c-bef6-216515e07913%2F0wf0ndj.jpeg&w=3840&q=75)
Transcribed Image Text:E7.6 (LO 2) (Recording Sales Transactions) Presented
below is information from Perez Computers Incorporated.
Sold $20,000 of computers to Robertson Company
with terms 3/15, n/60. Perez uses the
gross method to reobrd cash discounts. Perez
estimates allowances of $1,30o will be honored
on these sales.
July
Perez received payment from Robertson for the full
amount owed from the July transactions.
10
Sold $200,000 in computers and peripherals to The
Clark Store with terms of 2/10, n/30.
17
30
The Clark Store paid Perez for its purchase of July
17.
Instructions
Prepare the necessary journal entries for Perez Computers.
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