Nixa Office Supply uses a perpetual inventory system. On September 12, Nixa sold 26 calculators costing $23
Question:
Nixa Office Supply uses a perpetual inventory system. On September 12, Nixa sold 26 calculators costing $23 for $31 each to Sura Bookstore, terms n/30. During the remainder of September, the following transactions occurred.
Sept. 14 Granted credit of $31 to Sura Bookstore for the return of one calculator that was not ordered.
20 Received balance due from Sura Bookstore.
Instructions
Prepare the journal entries required by Nixa Office Supply on September 14 and 20. Omit explanations.
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Sept 14 Sales Returns and Allowances 31 Accounts Re...View the full answer
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Related Book For 
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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