Make the following purchases, sales, and returns entries. Ferretera Amigos carried out the following transactions during the
Question:
Make the following purchases, sales, and returns entries. Ferretería Amigos carried out the following transactions during the month of March:
2 $ 12,000 in inventory was purchased on credit with a term of 2/13 n / 30 and FOB shipping point.
4 Merchandise was returned for $ 400 from the purchase made on March 2 because it was defective.
6 Shipping for the purchase of inventory purchased on March 2 was paid.
11 Inventory was sold on credit to a customer for $ 5,000 with a sell term of 2/10 n / 30.
12 The amount owed for the purchase of March 2 was paid.
15 Customer was offered an allowance on the March 11 purchase.
20 The customer who made the purchase on the 11th paid in full with the corresponding discounts.
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella