GW sold merchandise to Mulligans for $10,000, offering term of 1/15, n/30. mulligans paid for the merchandise within the discount period. both companies use perpetual inventory system. I need a. Prepare the journal entries in the accounting records of GW to accounts for this sale and the subsequent collection. Assume the original cost of merchandise to GW had been $6,500 b. Prepare jurnal entire in the accounting records of mulligans accounts for the purchase and subsequent paymen.t Mulligans records purchase merchandise at net cost. c. Assume that, because of a change in personnel, Mulligans failed to pay for this mechandise within the discount period. prepare journal entry in the accounting records of Mulligans to record payment after the discount period.
GW sold merchandise to Mulligans for $10,000, offering term of 1/15, n/30. mulligans paid for the merchandise within the discount period. both companies use perpetual inventory system.
I need
a. Prepare the journal entries in the accounting records of GW to accounts for this sale and the subsequent collection. Assume the original cost of merchandise to GW had been $6,500
b. Prepare jurnal entire in the accounting records of mulligans accounts for the purchase and subsequent paymen.t Mulligans records purchase merchandise at net cost.
c. Assume that, because of a change in personnel, Mulligans failed to pay for this mechandise within the discount period. prepare
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