Prepare the entry on Pixer’s books to record the sale.   Prepare the entry on Pixer’s books to record the receipt of payment.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On June 7, Pixer Co. sells $1,500 of merchandise to Jasmine Co. on account.  Jasmine Co. pays for this merchandise on June 21.

  1. Prepare the entry on Pixer’s books to record the sale.
     
  2. Prepare the entry on Pixer’s books to record the receipt of payment.
     


a.

General Journal
Date Description Debit Credit
June 7 AnswerAccounts ReceivableCashSales Answer Answer
  AnswerAccounts ReceivableCashSales Answer Answer
  To record sales of merchandise.    


b.

General Journal
Date Description Debit Credit
June 21 AnswerAccounts ReceivableCashSales Answer Answer
  AnswerAccounts ReceivableCashSales Answer Answer
  To record receipt of cash from customer.    
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