ECG Company recorded two sales on March 1 of $20,000 and $30,000 under credit terms of 3/10,
Fantastic news! We've Found the answer you've been seeking!
Question:
ECG Company recorded two sales on March 1 of $20,000 and $30,000 under credit terms of 3/10, n/30 (3% discount if paid within 10 days, entire balance due in 30 days). Payment for the $20,000 sale was received on March 8. Payment for the $30,000 sale was received on March 25. At what amounts are ECGs gross sales reported for the month of March under the gross method and the net method.
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date: