On November 4, Nimble Sports Company sold merchandise inventory on account to On Point Wholesalers, $24,000, that
Question:
On November 4, Nimble Sports Company sold merchandise inventory on account to On Point Wholesalers, $24,000, that cost $8,600. Terms 3/10, n/30. On November 5, On Point Wholesalers paid shipping of $60. On Point Wholesalers paid the balance to Nimble Sports Company on November 13.
Requirements
1. Journalize On Point Wholesaler’s November transactions.
2. Journalize Nimble Sports Company’s November transactions.
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ANSWER 1 Journalize On Point Wholesalers November transactions November 4 Date Account Debit Credit Nov 4 Accounts Receivable 24000 Sales Revenue 2400...View the full answer
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