On April 1, Moloney Meat Distributors sold merchandise on account to Fronke's Franks for $1,000 on Invoice 1001, terms 3/10, n/30. Payment was received in full from Fronke's Franks, less discount, on April 10. Required: Record the transactions on April 1 and April 10. View transaction list View journal entry worksheet / No 1 2 Date April 01 April 10 General Journal Accounts receivable/Fronke's Franks Sales Cash Sales discounts Accounts receivable/Fronke's Franks Debit 1,000 980 20 Credit 1,000 1,000 Ⓡ
On April 1, Moloney Meat Distributors sold merchandise on account to Fronke's Franks for $1,000 on Invoice 1001, terms 3/10, n/30. Payment was received in full from Fronke's Franks, less discount, on April 10. Required: Record the transactions on April 1 and April 10. View transaction list View journal entry worksheet / No 1 2 Date April 01 April 10 General Journal Accounts receivable/Fronke's Franks Sales Cash Sales discounts Accounts receivable/Fronke's Franks Debit 1,000 980 20 Credit 1,000 1,000 Ⓡ
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Q.22.
Transcribed Image Text:On April 1, Moloney Meat Distributors sold merchandise on account to Fronke's Franks for $1,000 on Invoice 1001, terms 3/10, n/30.
Payment was received in full from Fronke's Franks, less discount, on April 10.
Required:
Record the transactions on April 1 and April 10.
View transaction list View journal entry worksheet
No
1
2
Date
April 01
April 10
General Journal
Accounts receivable/Fronke's Franks
Sales
Cash
Sales discounts
Accounts receivable/Fronke's Franks
Debit
1,000
⁹80
20
Credit
1,000
1,000
ouni
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