Question E8.2

Journalize entr. receivable ILO 1) Presented below are selected transactions of Federer Apparel, Federer sells in large quanti- es to other companies and also sells its product in a small retail outlet. arch1 Sold merchandise on account to Lynda Company for CHF5,000, terms 2/10, n/30. 3 Lynda Company returned merchandise worth CHF500 to Federer. 9 Federer collected the amount due from Lynda Company from the March 1 sale. 15 Federer sold merchandise for CHF400 in its retail outlet. The customer used his Federer credit card 31 Federer added 1.5% monthly interest to the customer's credit card balance. Instructions Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations.) E8.3 (LO 1) Presented below are two independent situations. Journal accoun Instructions Exercis Exercises EX.I (LO 1) o terms 1/10 101) On January 6. Malta Ltd. sells merchandise on account to Harley Inc. for 9.200. 1/10. n/30. On January 16, Harley pays the amount due. Prepare entries for recog accounts receivable. Instructions Prepare the entrie entries.) e the entries on Malta's books to record the sale and related collection. (Omit cost of goods sold 82 (LO 1) Presented below are selected transactions of Federer Apparel. Federer sells in large quanti- to other companies and also sells its product in a small retail outlet. Journalize entries receivable. arch 1 3 9 15 Sold merchandise on account to Lynda Company for CHF5,000, terms 2/10, n/30. Lynda Company returned merchandise worth CHF500 to Federer. Federer collected the amount due from Lynda Company from the March 1 sale. Federer sold merchandise for CHF400 in its retail outlet. The customer used his Federer credit card. Federer added 1.5% monthly interest to the customer's credit card balance. 31 Instructions Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations.) E8.3 (LO 1) Presented below are two independent situations. Journal accoun instruction Call calle merchandise on account to Pryor Group for 7,000, terms 2/10