The following information has been extracted from the books of Gordon, a trader in furniture. 2015 June 1 Sold goods to Benitez, list price $300, less 20 % trade discount. Benitez paid a cheque of $235 in full settlement of his account. 8 REQUIRED c) d) Amount of trade discount and amount to be to be recorded as sales. Amount of cash discount allowed.
The following information has been extracted from the books of Gordon, a trader in furniture. 2015 June 1 Sold goods to Benitez, list price $300, less 20 % trade discount. Benitez paid a cheque of $235 in full settlement of his account. 8 REQUIRED c) d) Amount of trade discount and amount to be to be recorded as sales. Amount of cash discount allowed.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...
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