On June 24, 2012, Sudweeks Company sold merchandise to Brooke Bowman for $70,000 with terms 2/10, n/30.
Question:
On June 24, 2012, Sudweeks Company sold merchandise to Brooke Bowman for $70,000 with terms 2/10, n/30. On June 30, Bowman paid $39,200 on her account and was allowed a discount for the timely payment. On July 20, Bowman paid $21,000 on her account and returned $9,000 of merchandise, claiming that it did not meet contract terms.
Record the necessary journal entries for Sudweeks Company on June 24, June 30, and July 20.
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June 24 Accounts Receivable 70000 Sales Revenue 70000 Sold merc...View the full answer
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Related Book For 
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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