Question: Presented below is information from Culver Computers Incorporated. July 1 Sold $22,000 of computers to Robertson Company with terms 3/15, 1/60. Culver uses the gross
Presented below is information from Culver Computers Incorporated. July 1 Sold $22,000 of computers to Robertson Company with terms 3/15, 1/60. Culver uses the gross method to record cash discounts. Culver estimates allowances of $1,430 will be honored on these sales. Culver received payment from Robertson for the full amount owed from the July transactions. 17 Sold $220,000 in computers and peripherals to The Clark Store with terms of 2/10, 1/30 30 The Clark Store paid Culver for its purchase of July 17. 10 Prepare the necessary journal entries for Culver Computers. (If no entry is required, select "No Entry" for the account titles and entero for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not Indent manual)
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