please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Presented below is information from Waterway Computers Incorporated.July 1101730Sold $23,200 of computers to Robertson Company with terms 3/15, n/60. Waterway uses the gross method to recordcash discounts. Waterway estimates allowances of $1,508 will be honored on these sales. (Waterway records theseestimates at point of sale.)Waterway received payment from Robertson for the full amount owed from the July transactions.Sold $232,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.The Clark Store paid Waterway for its purchase of July 17.Prepare the necessary journal entries for Waterway Computers. (If nofor the amounts. Credit account titles are automatically indented when thebefore credit entries. Record journal entries in the order presented in the problem.)DateJuly 1July 10Account Titles and Explanation(To record sales revenue.)try is required, select "No Entry" for the account titles and enter 0ount is entered. Do not indent manually. List all debit entries(To record allowance for sales returns.)DebitCreditE

In case of credit sales, accounts receivable- is to be debited and sales revenue account is to be…

Presented below is information from Waterway Computers Incorporated. Sold $23,200 of computers to Robertson Company with terms 3/15, n/60. Waterway uses the gross method to record cash discounts. Waterway estimates allowances of $1,508 will be honored on these sales. (Waterway records these estimates at point of sale) Waterway received payment from Robertson for the full amount owed from the July transactions. 17 Sold $232,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Waterway for its purchase of July 17. July 1 10 ry is required, select "No Entry" for the account titles and enter O ount is entered. Do not indent manually. List all debit entries Prepare the necessary journal entries for Waterway Computers. (If no for the amounts. Credit account titles are automatically indented when the before credit entries. Record journal entries in the order presented in the problem.) Debit Credit

Presented below is information from Waterway Computers Incorporated. Sold $23,200 of computers to Robertson Company with terms 3/15, n/60. Waterway uses the gross method to record cash discounts. Waterway estimates allowances of $1,508 will be honored on these sales. (Waterway records these estimates at point of sale) Waterway received payment from Robertson for the full amount owed from the July transactions. 17 Sold $232,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Waterway for its purchase of July 17. July 1 10 ry is required, select "No Entry" for the account titles and enter O ount is entered. Do not indent manually. List all debit entries Prepare the necessary journal entries for Waterway Computers. (If no for the amounts. Credit account titles are automatically indented when the before credit entries. Record journal entries in the order presented in the problem.) Debit Credit

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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