Business, 20.06.2020 20:57 pacetys

Sold merchandise inventory on account for $4,900. Payment terms were 3/15, n/30. These goods cost the company $2,450 Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Debit Credit Date Accounts Feb. 10
Now journalize the expense related to the February 10 sale-Cost of goods, $2,450
Debit Credit Date Accounts Feb. 10 Feb. 12:
Paid amount owed on credit purchase of February 3, less the return and the discount.
Debit Credit Date Accounts Feb. 12

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Sold merchandise inventory on account for $4,900. Payment terms were 3/15, n/30. These goods cost th...

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