Kk129. Net Solutions purchased 200 units of Commodity 30 on account for $15 each FOB shipping point, credit terms: 2/15, n/60 on October 21, 2021, from P. Moore. 80 units were damaged in shipment, and were returned on Oct. 27, 2021. Net Solution paid ABC Shipping agency $136 for the delivery and paid the balance on Nov 4. Assume the company uses perpetual inventory system. Journalize all the transactions for Net Solution

Kk129. Net Solutions purchased 200 units of Commodity 30 on account for $15 each FOB shipping point, credit terms: 2/15, n/60 on October 21, 2021, from P. Moore. 80 units were damaged in shipment, and were returned on Oct. 27, 2021. Net Solution paid ABC Shipping agency $136 for the delivery and paid the balance on Nov 4. Assume the company uses perpetual inventory system. Journalize all the transactions for Net Solution

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 8Q: Sunrise Flowers sells flowers to a customer on credit for $130 on October 18, with a cost of sale to...

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Question

Kk129.

Net Solutions purchased 200

units of Commodity 30 on account for $15

each FOB shipping point, credit terms: 2/15,

n/60 on October 21, 2021, from P. Moore. 80

units were damaged in shipment, and were

returned on Oct. 27, 2021. Net Solution paid

ABC Shipping agency $136 for the delivery

and paid the balance on Nov 4. Assume the

company uses perpetual inventory system.

Journalize all the transactions for Net

Solutions.

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