Question: Suppose Funtime purchases 62 000 of sportswear on account from Great

Suppose Funtime purchases $62,000 of sportswear on account from Great Wear on December 1, 2012. Credit terms are 2/1 0, net 60. Funtime pays Great Wear on December 8, 201 2.
1. Journalize the transactions for Funtime on December 1, 201 2, and December 8, 2012.
2. What was the final cost of this inventory for Funtime?




Sale on SolutionInn
Sales0
Views149
Comments
  • CreatedApril 29, 2014
  • Files Included
Post your question
5000