Fleming had the following transactions. Required Post the transactions listed above in Fleming's books in good form.
Question:
Fleming had the following transactions.
Required
Post the transactions listed above in Fleming's books in good form.
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July 1 Purchased goods from Adams for $5000 less trade discount 15%. Adams allowed Fleming 4% cash discount. of 4 Purchased goods from Bond for $2500 less trade discount of 10%. Bond allowed Fleming 4% cash discount. 5 Returned goods which had cost $600 to Adams. 7 Purchased goods from Astle for $7000 less trade discount of 20%. Astle allowed Fleming 5% cash discount. 9 Returned goods which had cost $800 to Astle. oming to 10 Purchased goods from Cairns for $4200 less 10% trade discount. Cairns allowed Fleming 5% cash discount. 14 Fleming settled all accounts owing to his suppliers by cheque, taking advantage of the cash discount in each case.
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Date Transaction Description Debit Credit July 1 Purchased goods from Adams 4250 5000 750 Accounts P...View the full answer
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