Question: Presented below is information from Bramble Computers. July 1 10 Sold R$23,200 of computers to Smallwood Company with terms 3/15, n/60. Bramble uses the

Presented below is information from Bramble Computers. July 1 10 Sold R$23,200

Presented below is information from Bramble Computers. July 1 10 Sold R$23,200 of computers to Smallwood Company with terms 3/15, n/60. Bramble uses the gross method to record cash discounts. Bramble received payment from Smallwood for the full amount owed from the July transactions. 17 Sold R$232.000 in computers and peripherals to The Hernandez Store with terms of 2/10, n/30. 30 The Hernandez Store paid Bramble for its purchase of July 17. Prepare the necessary journal entries for Bramble Computers. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation July 1 Accounts Receivable Sales Revenue July 10 Cash Sales Discounts Accounts Receivable July 17 Accounts Receivable Sales Revenue July 30 Cash Accounts Receivable Debit Credit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!