1. On April 20, KidsWare Co. purchased 200 T-shirts at $3 each from Fine Thread Co., credit terms 3/10, n/30. 2- On April 22, KidsWear Co. and Fine Thread Co. agreed for reduction of $1 per unit in the price of 10 T-shirts that had a small defect but were not returned. 3. On April 25, KidsWare Co.returned to FineThreads Co. 30 T-shirts, because they were of a different color
1. On April 20, KidsWare Co. purchased 200 T-shirts at $3 each from Fine Thread Co., credit terms 3/10, n/30. 2- On April 22, KidsWear Co. and Fine Thread Co. agreed for reduction of $1 per unit in the price of 10 T-shirts that had a small defect but were not returned. 3. On April 25, KidsWare Co.returned to FineThreads Co. 30 T-shirts, because they were of a different color
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 1PB: Record journal entries for the following transactions of Furniture Warehouse. A. July 5: Purchased...
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1. On April 20, KidsWare Co. purchased 200 T-shirts at $3 each from Fine Thread Co., credit terms 3/10, n/30.
2- On April 22, KidsWear Co. and Fine Thread Co. agreed for reduction of $1 per unit in the price of 10 T-shirts that had a small defect but were not returned.
3. On April 25, KidsWare Co.returned to FineThreads Co. 30 T-shirts, because they were of a different color.
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