Terms of all credit sales are 2/10, n/30. Indicate which journal each of these transactions would be entered.

1. Received a $630 credit memorandum from Rose Supply for office equipment received on March 9 and returned for credit

2. Taylor Wood returned $1,200 of merchandise (cost is $581), credit memo 855

3. M. Bishop, the owner, invested equipment valued at $12,000 into the business.

4. Issued Ck. No. 420 to LR Company in payment of the invoice of March 13 less return and the discount.

5. Received payment from Taylor Wood for the March 17 sale, less the return, and discount

Answer rating: 100% (QA)

All the transction should be recorded But we have to check the books of accounts for 4 and 5 no tran... View the full answer