Question: Suppose Piranha com sells 2 500 books on account for 15

Suppose Piranha.com sells 2,500 books on account for $ 15 each (cost of these books is $ 22,500), credit terms 2/15, n/60 on October 10, 2015, to The Textbook Store. One hundred of these books (cost $ 900) were damaged in shipment, so Piranha.com later received the damaged goods from The Textbook Store as sales returns on October 13, 2015. The Textbook Store paid the balance to Piranha.com on October 22, 2015.

Requirements
1. Journalize The Textbook Store’s October 2015 transactions.
2. Journalize Piranha.com’s October 2015 transactions.


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  • CreatedJanuary 16, 2015
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