Record the following transactions of October 2020 related to Khayat Company: Oct, 1 Sold SR15,000 of...

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Record the following transactions of October 2020 related to Khayat Company: Oct, 1 Sold SR15,000 of merchandise in cash and sold SR50,000 of merchandise on credit to Al-Ghamdi Ltd., terms 3/10, n/30. Oct, 8 Received payment in full from Al-Ghamdi Ltd. for the balance due. Oct, 13 The credit manager of the company estimated that uncollectable amount is 1% of credit sales. The credit sales balance is SR150,000 Oct, 20 The management decided to write off SR250 of uncollectable accounts receivable. Oct, 29 The company sold accounts receivable of SR10,000 for a service charge fee of 2%. Record the following transactions of October 2020 related to Khayat Company: Oct, 1 Sold SR15,000 of merchandise in cash and sold SR50,000 of merchandise on credit to Al-Ghamdi Ltd., terms 3/10, n/30. Oct, 8 Received payment in full from Al-Ghamdi Ltd. for the balance due. Oct, 13 The credit manager of the company estimated that uncollectable amount is 1% of credit sales. The credit sales balance is SR150,000 Oct, 20 The management decided to write off SR250 of uncollectable accounts receivable. Oct, 29 The company sold accounts receivable of SR10,000 for a service charge fee of 2%.

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