2 3 4 5 5 Mynerva Marcano created a business in which she buys and sells...

 

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2 3 4 5 5 Mynerva Marcano created a business in which she buys and sells household appliances. She extends a credit term of 2/10, n/30 to all her clients. During the month of February the following transactions occurred. February 1 Purchase of household appliances for $156,000 from Marikato Company, FOB shipping point, terms 3/15, n/30. 1 The appropriate party also made a cash payment of $3,750.00 for the freight on this date. 5 Sold household appliances on account to WalMart Inc. for $200,000. The cost of the household appliances sold was $98,000. 10 Received $25,000 credit for household appliances returned to Marikato Company. 12 Granted WalMart Inc. $50,000 credit for household appliances returned costing $22,000. 14 Received payment from WalMart Inc. in full. Check if qualify for the discount. 15 Paid Marikato Company in full. Check if you qualify for the discount Journalize the transactions for the month of February for Mynerva's Appliances Inc. 2 3 4 5 5 Mynerva Marcano created a business in which she buys and sells household appliances. She extends a credit term of 2/10, n/30 to all her clients. During the month of February the following transactions occurred. February 1 Purchase of household appliances for $156,000 from Marikato Company, FOB shipping point, terms 3/15, n/30. 1 The appropriate party also made a cash payment of $3,750.00 for the freight on this date. 5 Sold household appliances on account to WalMart Inc. for $200,000. The cost of the household appliances sold was $98,000. 10 Received $25,000 credit for household appliances returned to Marikato Company. 12 Granted WalMart Inc. $50,000 credit for household appliances returned costing $22,000. 14 Received payment from WalMart Inc. in full. Check if qualify for the discount. 15 Paid Marikato Company in full. Check if you qualify for the discount Journalize the transactions for the month of February for Mynerva's Appliances Inc.