Steve's Skateboards had the following sales transactions with Hobby Shop during April. Steve's Skateboards and Hobby Shop
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Steve's Skateboards had the following sales transactions with Hobby Shop during April. Steve's Skateboards and Hobby Shop both use perpetual inventory system.
April 2 | Steve's Skateboards sold merchandise to Hobby Shop on credit for $4,800, terms 1/15, n/60. The cost of items sold was $2,700. |
April 13 | Hobby Shop paid Steve's Skateboards for the merchandise purchased on April 2, taking any appropriate discount earned. |
The journal entries for Hobby Shop on April 2 are
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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