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.

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Related Book For  answer-question

Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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