Prepare entries in general journal form to record the following: June 12 Sold merchandise on account to
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June 12 Sold merchandise on account to K. Perrot; terms 3/10, n/30; $ 1,740.
July 12 Received $ 740 in cash from K. Perrot and a 60-day, 7 percent note for $ 1,000, dated July 12.
Aug. 17 Discounted the note at the bank at 7.5 percent.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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