Question: On May 1 2015 Crab Cove Fishing Company sold Maine

On May 1, 2015, Crab Cove Fishing Company sold Maine lobster on account for a gross price of $30,000. On May 5, the company also sold cod on account for a gross price of $20,000. The terms of both sales were 3/10, n/30. Crab Cove received payment for the first sale on May 6, 2015, and payment for the second sale on May 31, 2015.
Provide all necessary journal entries.


View Solution:


Sale on SolutionInn
Sales0
Views106
Comments
  • CreatedAugust 19, 2014
  • Files Included
Post your question
5000