Journalize the following sales transactions for Home Goods Wholesale. Explanations are not required. Jan. 4 8 13
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Journalize the following sales transactions for Home Goods Wholesale. Explanations are not required.
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Jan. 4 8 13 20 20 25 29 Sold $10,000 of furniture on account, credit terms are 1/15, n/30, to Austin Furniture Store. Cost of goods is $5,000. Received a $300 sales return on damaged goods from Austin Furniture Store. Cost of goods damaged is $150. Home Goods Wholesale received payment from Austin Furniture Store on the amount due from Jan. 4, less the return and discount. Sold $5,200 of furniture on account, credit terms are 1/10, n/45, FOB destination, to Santa Fe Furniture. Cost of goods is $2,600. Home Goods Wholesale paid $120 on freight out. Home Goods Wholesale negotiated a $500 allowance on the goods sold on Jan. 20 to Santa Fe Furniture. Received payment from Santa Fe Furniture on the amount due from Jan. 20, less the allowance and discount.
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Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780137858651
8th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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