Question

Journalize the following sales transactions for Antique Mall. Explanations are not required.
Jan. 4 Sold $ 12,200 of antiques on account, credit terms are 3/15, n/30. Cost of goods is $ 6,400.
8 Received a $ 400 sales return on damaged goods from the customer. Cost of goods damaged is $ 210.
13 Antique Mall receives payment from the customer on the amount due from Jan. 4, less the return and discount.
20 Sold $ 4,800 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is $ 1,200.
20 Antique Mall paid $ 100 on freight out.
25 Antique Mall negotiated a $ 300 allowance on the goods sold on Jan. 20.
29 Receives payment from the customer on the amount due from Jan. 20, less the allowance and discount.



$1.99
Sales5
Views374
Comments0
  • CreatedJanuary 16, 2015
  • Files Included
Post your question
5000