On Feb 1st, Blake Inc Sold merchandise to kramer corp for 1,000. Terms of sale were 2/10 n /30. On Feb 6th, Blake recieves full payment from Kramer. A: Prepare the journal entry under the net method. B: Prepare the journal entry assuming that the payment was not recieved until March 3rd

On Feb 1st, Blake Inc Sold merchandise to kramer corp for 1,000. Terms of sale were 2/10 n /30. On Feb 6th, Blake recieves full payment from Kramer. A: Prepare the journal entry under the net method. B: Prepare the journal entry assuming that the payment was not recieved until March 3rd

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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Question

On Feb 1st, Blake Inc Sold merchandise to kramer corp for 1,000. Terms of sale were 2/10 n
/30. On Feb 6th, Blake recieves full payment from Kramer. A: Prepare the journal entry under
the net method. B: Prepare the journal entry assuming that the payment was not recieved
until March 3rd

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