Bud Brett Company sold P20,000 merchandise to Good Vibes Trading on March 1 with terms 1/10,...
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Bud Brett Company sold P20,000 merchandise to Good Vibes Trading on March 1 with terms 1/10, n/30. Cost of merchandise sold is P16,000. Due to wrong specifications, a P1,500 worth of merchandise was returned. Cost of merchandise returned is P1,200. The account was settled on March 11. Give the necessary journal entries under perpetual inventory system. Bud Brett Company sold P20,000 merchandise to Good Vibes Trading on March 1 with terms 1/10, n/30. Cost of merchandise sold is P16,000. Due to wrong specifications, a P1,500 worth of merchandise was returned. Cost of merchandise returned is P1,200. The account was settled on March 11. Give the necessary journal entries under perpetual inventory system.
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Answer Date Particulars 1Mar Good Vibes 1Mar Sales Being sales month on Credit Cost o... View the full answer
Related Book For
Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
Posted Date:
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