Hanna Lighting recently transferred $ 60,000 of electrical supplies to Goshen Super-markets on consignment. The retail price

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Hanna Lighting recently transferred $ 60,000 of electrical supplies to Goshen Super-markets on consignment. The retail price of the supplies is $ 81,000. Hanna offers its consignees a 25% fee on the retail price of the inventory sold. Hanna shipped the supplies to Goshen on April 1 and Goshen sold the inventory on June 30. Prepare the journal entries required for Hanna Lighting to record the consignment transaction.
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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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