Nestl, a Switzerland-based company, uses a sales journal, a purchases journal, a cash receipts journal, a cash
Question:
Journalize the following summary transactions of Nestlé transactions that should be recorded in the general journal. For those not recorded in the general journal, identify only the special journal where each should be recorded. (All amounts in millions of Swiss franc, CHF.)
1. Nestlé purchased CHF 8,000 of merchandise on credit from the suppliers.
2. Nestlé sold CHF 100,000 of merchandise (cost is CHF 44,000) on credit to customers.
3. A key customer returned CHF 900 of (worthless) merchandise to Nestlé (assume the cost of this merchandise is left in cost of goods sold).
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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