Wilmington Co. sold merchandise to Rather Co. on account, $8,700, terms 2/15, n/30. The cost of merchandise

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Wilmington Co. sold merchandise to Rather Co. on account, $8,700, terms 2/15, n/30. The cost of merchandise sold is $5,220. Assume all discounts are taken.

Journalize Wilmington Co.'s entries for (a) the sale on the account and (b) the collection of the amount due.

(a)



(b)

Journalize Rather Co.'s entries for (a) the purchase of merchandise on the account and (b) the payment of the amount due.

(a)

(b)

Related Book For answer-question

Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Posted Date: Jan 10, 2021 05:57 AM

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Wilmington Co. sold merchandise to Rather Co. on account, $8,700, terms 2/15, n/30. The cost of merchandise

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Engineering economy

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