Edmonton Appliance Company sells a variety of appliances. The following transactions occurred on Oct 18:

a. Sold a dishwasher for cash for $960.

b. Sold a cooker on account for $1,450 at terms of 2/10,n/30.

c. A customer returned a washing machine purchased on Oct 11 for$1,050 due to some defects.

d. A customer purchased a freezer for $1,280 using a credit card. The credit card company charges Edmonton Appliance Company 3%fee.

i) Write the journal entries required for the above transactions. 

ii) Write the journal entry required if the customer in transaction b. pays dues on Nov 5. 

iii) Write the journal entry required if the customer in transaction b. pays dues on Dec 2. 

iv) Calculate the net sales for Oct 18 for the company.

Answer rating: 100% (QA)

Answer Explanation Part i a Cash 960 Sales Revenue 960 b Accounts Receivable 1450 ... View the full answer