On March 2, Cullumber Company sold $ 889,000 of merchandise on account to Riverbed Company, terms 3/10, n/30. The cost of the merchandise sold was $ 592,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) On March 6, Riverbed Company returned $ 88,900 of the merchandise purchased on March 2. The cost of the returned merchandise was $ 59,900. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned)
On March 2, Cullumber Company sold $ 889,000 of merchandise on account to Riverbed Company, terms 3/10, n/30. The cost of the merchandise sold was $ 592,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) On March 6, Riverbed Company returned $ 88,900 of the merchandise purchased on March 2. The cost of the returned merchandise was $ 59,900. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...
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