Transactions for Buyer and Seller Wilmington Co. sold merchandise to Angelleti Co. on account, $150,200, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $90,120. Wilmington Co. paid freight of $2,000. Assume that all discounts are taken. Journalize Wilmington Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b) (c) Journalize Angelleti Co.'s entries for (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b) B

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Transactions for Buyer and Seller
Wilmington Co. sold merchandise to Angelleti Co. on account, $150,200, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $90,120. Wilmington
Co. paid freight of $2,000. Assume that all discounts are taken.
Journalize Wilmington Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank.
(a)
(b)
(c)
Journalize Angelleti Co.'s entries for (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it blank.
(a)
(b)
B
Transcribed Image Text:Transactions for Buyer and Seller Wilmington Co. sold merchandise to Angelleti Co. on account, $150,200, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $90,120. Wilmington Co. paid freight of $2,000. Assume that all discounts are taken. Journalize Wilmington Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b) (c) Journalize Angelleti Co.'s entries for (a) sale, and (b) payment of amount due. If an amount box does not require an entry, leave it blank. (a) (b) B
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