Question

Skidmore Music Company had the following transactions in March:
a. Sold instruments to customers for $18,000; received $8,000 in cash and the rest on account. The cost of the instruments was $9,000.
b. Purchased $4,000 of new instruments inventory; paid $1,000 in cash and owed the rest on account.
c. Paid $900 in wages for the month.
d. Received $5,000 from customers as deposits on orders of new instruments to be sold to the customers in April.
e. Received a $300 bill for March utilities that will be paid in April.
Complete the followingstatements:


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  • CreatedJuly 01, 2014
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