Question: ch 5 quest 5 Suppose Bigriver.com sells 2,000 books on account for $15 each (cost of these books is $18,000 ) on October 10 to

ch 5 quest 5

Suppose Bigriver.com sells 2,000 books on account for $15 each (cost of these books is $18,000 ) on October 10 to The Avid Reader. Several books were slightly damaged in shipment, so Bigriver.com granted a sales allowance of $900 to The Avid Reader on October 13. On October 25 , The Avid Reader paid the balance due. (Assume both companies use a perpetual inventory system.) Read the requirements. Requirement 1. Journalize The Avid Reader's October transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Oct. 10: Bigriver.com sells 2,000 books on account for $15 each on October 10 to The Avid Reader. Record the transaction on the books of The Avid Reader. Requirements 1. Journalize The Avid Reader's October transactions. 2. Journalize Bigriver.com's October transactions. The company estimates sales returns at the end of each month

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