ompany uses ntory system. 1. 2. On January 6, Cullumber Co. sells merchandise on account to Pryor Company for $5,450, terms 2/10, n/30. On January 16, Pryor Company pays the amount due. On January 10, D. Laskowski purchases $7,100 of merchandise from Bramble Co., terms 2/10, n/30. D. Laskowski returns $500 of merchandise to Bramble on January 15. Bramble Co. charges its customers 1% per month on overdue amounts. On March 10, Bramble records interest on D. Laskowski's past-due account. On March 11, D. Laskowski pays his account in full.
ompany uses ntory system. 1. 2. On January 6, Cullumber Co. sells merchandise on account to Pryor Company for $5,450, terms 2/10, n/30. On January 16, Pryor Company pays the amount due. On January 10, D. Laskowski purchases $7,100 of merchandise from Bramble Co., terms 2/10, n/30. D. Laskowski returns $500 of merchandise to Bramble on January 15. Bramble Co. charges its customers 1% per month on overdue amounts. On March 10, Bramble records interest on D. Laskowski's past-due account. On March 11, D. Laskowski pays his account in full.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 7E: Record the following transactions for a perpetual inventory system in general journal form. a. Sold...
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