Question

On January 16, two credit sales were made, one for $200 and one for $300. Terms for both sales were 3/15, n/30. Cash for the $200 sale was collected on January 25; cash for the $300 sale was collected on February 14. Make all journal entries necessary to record both the sales and the cash collections. Use the gross method of accounting for sales discounts.



$1.99
Sales0
Views138
Comments0
  • CreatedApril 07, 2012
  • Files Included
Post your question
5000