1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and Installations invoice is 28.000 TL + %10 VAT half cash paid and half note issued. 2) 84.000 TL Check is endorced for 24 month rent contract. Starting 1st of July 2019. 3) Merchandise purchased for 96.000 TL + %10 VAT and Freight In invoice is 6.000 TL+ %10 VAT. Half check is endorced and the balance is on account For both (purchase and fright in).
1) Machinary is purchased for 196.000 TL + %10 VAT , Check is issued . Transportation and Installations invoice is 28.000 TL + %10 VAT half cash paid and half note issued. 2) 84.000 TL Check is endorced for 24 month rent contract. Starting 1st of July 2019. 3) Merchandise purchased for 96.000 TL + %10 VAT and Freight In invoice is 6.000 TL+ %10 VAT. Half check is endorced and the balance is on account For both (purchase and fright in).
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 11RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...
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