The following are selected transactions of Watsonia Stores: July 12 19 21 Sold goods on account to
Question:
The following are selected transactions of Watsonia Stores:
July | 12 19 21 | Sold goods on account to Viewbank Market for $1200, terms 2/10, n/30. The cost of the goods sold was $800. Forwarded a credit note for $90 to Viewbank Market covering part of the goods sold on 12 July, which cost $60, that were returned by View bank Market as inappropriate. The goods returned were not defective. Received from Viewbank Market a cheque in full settlement of the above transactions. |
Required
Assuming that neither business is registered for GST, record the above transactions in the general journal of
1. Watsonia Stores and
2. Viewbank Market.
Step by Step Answer:
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett