Record the necessary journal entries. April 2, Sold merchandise on account to Brown Company for $18,900, 1/10, n/30. The cost of the merchandise sold was $13,300. April 9, Sold merchandise for cash for $55,400. The cost of the merchandise sold was $33,200 April 8, received check from Brown Company. April 30, purchased merchandise for cash $90,000. May 1, sold merchandise on account to Empire Company for $27,500, 2/15, n/30. The cost of the merchandise sold was $16,000. May 2, Empire returned $2,000 of the merchandise to us. The cost of the merchandise was $650. May 4, we issued Empire a credit memo for $500 because of a slight defect in one of the items May 10, we received a check from Empire Company
Record the necessary journal entries. April 2, Sold merchandise on account to Brown Company for $18,900, 1/10, n/30. The cost of the merchandise sold was $13,300. April 9, Sold merchandise for cash for $55,400. The cost of the merchandise sold was $33,200 April 8, received check from Brown Company. April 30, purchased merchandise for cash $90,000. May 1, sold merchandise on account to Empire Company for $27,500, 2/15, n/30. The cost of the merchandise sold was $16,000. May 2, Empire returned $2,000 of the merchandise to us. The cost of the merchandise was $650. May 4, we issued Empire a credit memo for $500 because of a slight defect in one of the items May 10, we received a check from Empire Company
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- Record the necessary
journal entries.
April 2, Sold merchandise on account to Brown Company for $18,900, 1/10, n/30. The cost of the merchandise sold was $13,300.
April 9, Sold merchandise for cash for $55,400. The cost of the merchandise sold was $33,200
April 8, received check from Brown Company.
April 30, purchased merchandise for cash $90,000.
May 1, sold merchandise on account to Empire Company for $27,500, 2/15, n/30. The cost of the merchandise sold was $16,000.
May 2, Empire returned $2,000 of the merchandise to us. The cost of the merchandise was $650.
May 4, we issued Empire a credit memo for $500 because of a slight defect in one of the items
May 10, we received a check from Empire Company
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