Question: Please journalize only exercise 5.5: Exercise 5.5 The following transactiona are for ACo. Prepare the journal entries for ACo, a seller. B. Dec 03, ACo

Please journalize only exercise 5.5:

Please journalize only exercise 5.5: Exercise 5.5 The following transactiona are for

Exercise 5.5 The following transactiona are for ACo. Prepare the journal entries for ACo, a seller. B. Dec 03, ACo sold $500,000 of mdse to a customer, on account, tems 1/10, n/3D. The cost of mdse sold was $330,000. (2 entries req id, one for 500k the other for 330k ). (T)e done one of the entries for you . do the other reg'd entry ... CGS and WVI b. Dec 09, ACe gave the customer a "Sales Allowance" of $25,000 for mdse bought Dec 03 . (FYY no cash is exchengod when giving an allowance- it reduces the ant ro be collonfod). c. Dec. 13, ACo recelvod, from the customer, the amount owed. (Does this include a "sines discount" or a moduction fo inventory? You the buger ar secter?)

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