Presented below is information from Perez Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company
Question:
Presented below is information from Perez Computers Incorporated.
July 1 Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to record cash discounts.
10 Perez received payment from Robertson for the full amount owed from the July transactions.
17 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.
30 The Clark Store paid Perez for its purchase of July 17.
Instructions
Prepare the necessary journal entries for Perez Computers.
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July 1 Accounts Receivable 20000 Sales 20000 July 10 Cash 194...View the full answer
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