Question

Following are recent transactions and other events involving Tremendous Tresses, a company that markets hair care products.
June 1 Customer purchased $400 of merchandise on credit with terms of n/60.
June 5 Wrote off an uncollectible account receivable of $350.
June 15 Customer purchased $1,200 of merchandise on credit with terms of 2/10, n/30.
June 17 Customer who purchased merchandise on June 1 returned $60 of that merchandise because it was defective.
June 25 Received amount due from customer who purchased merchandise on June 15.
June 29 Received payment in full from customer whose account balance was written off on June 5.
June 30 Received amount due from customer who purchased merchandise on June 1.
Required:
Prepare journal entries to record each of these transactions or events.


$1.99
Sales0
Views51
Comments0
  • CreatedMarch 27, 2015
  • Files Included
Post your question
5000