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No. (a) (a) (b) (c) (b) On March 2, Cullumber Company sold $890,100 of merchandise to Marin Company on account, terms 2/10, n/30. The cost of the merchandise sold was $546,300. On March 6, Marin Company returned $105,400 of the merchandise purchased on March 2. The cost of the merchandise returned was $62.600 On March 12, Cullumber Company received the balance due from Marin Company. Date (c) March 12 # # Account Titles and Explanation Accounts Receivable Sales Revenue (To record sale of merchandise) (To record return of merchandise) Debit 890100 Credit 890100 10000 0000 10000 1000

No. (a) (a) (b) (c) (b) On March 2, Cullumber Company sold $890,100 of merchandise to Marin Company on account, terms 2/10, n/30. The cost of the merchandise sold was $546,300. On March 6, Marin Company returned $105,400 of the merchandise purchased on March 2. The cost of the merchandise returned was $62.600 On March 12, Cullumber Company received the balance due from Marin Company. Date (c) March 12 # # Account Titles and Explanation Accounts Receivable Sales Revenue (To record sale of merchandise) (To record return of merchandise) Debit 890100 Credit 890100 10000 0000 10000 1000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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JJ. 177.

No. (a) (a) (b) (c) (b) On March 2, Cullumber Company sold $890,100 of merchandise to Marin Company on account, terms 2/10, n/30. The cost of the merchandise sold was $546,300. On March 6, Marin Company returned $105,400 of the merchandise purchased on March 2. The cost of the merchandise returned was $62.600 On March 12, Cullumber Company received the balance due from Marin Company. Date (c) March 12 # # Account Titles and Explanation Accounts Receivable Sales Revenue (To record sale of merchandise) (To record return of merchandise) Debit 890100 Credit 890100 10000 0000 10000 1000
Transcribed Image Text:No. (a) (a) (b) (c) (b) On March 2, Cullumber Company sold $890,100 of merchandise to Marin Company on account, terms 2/10, n/30. The cost of the merchandise sold was $546,300. On March 6, Marin Company returned $105,400 of the merchandise purchased on March 2. The cost of the merchandise returned was $62.600 On March 12, Cullumber Company received the balance due from Marin Company. Date (c) March 12 # # Account Titles and Explanation Accounts Receivable Sales Revenue (To record sale of merchandise) (To record return of merchandise) Debit 890100 Credit 890100 10000 0000 10000 1000
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