Journalize the following transactions for Mars Musical Company. November 3 Mars Musical Company sold $49,300 of...
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Journalize the following transactions for Mars Musical Company. November 3 Mars Musical Company sold $49,300 of merchandise on account to Tiger Company with credit terms of 3/EOM, n/60, FOB shipping point. Cost of merchandise sold was $21,100. November 7 Mars Musical Company paid $1,121 shipping charges to benefit Tiger Company, the charges were added to the bill. November 15 Tiger Company returned $2,750 of damaged merchandise. The cost of merchandise returned was $1,355, November 25 Tiger Company paid the amount owed. November 25 Tiger Company paid the amount owed. Date November 3 November 3 November November 15 November 15 November 25 Description Il Debit Credit Journalize the following transactions for Mars Musical Company. November 3 Mars Musical Company sold $49,300 of merchandise on account to Tiger Company with credit terms of 3/EOM, n/60, FOB shipping point. Cost of merchandise sold was $21,100. November 7 Mars Musical Company paid $1,121 shipping charges to benefit Tiger Company, the charges were added to the bill. November 15 Tiger Company returned $2,750 of damaged merchandise. The cost of merchandise returned was $1,355, November 25 Tiger Company paid the amount owed. November 25 Tiger Company paid the amount owed. Date November 3 November 3 November November 15 November 15 November 25 Description Il Debit Credit
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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