10) Order is delivered to customer .Customer closed the balance by issuing half check, half on account.Cost of Goods Sold is 116.000 TL. 11. 15.000 USD is paid by the customer for USD Merchandise Sale. Rate is 7.10 TL/USD 12) Customer returned 26.000 TL + 10% VAT merchandise. Cost of Goods Sold is 8.400 TL. Check is issued for returned merchandise and TL cash is paid for VAT.
10) Order is delivered to customer .Customer closed the balance by issuing half check, half on account.Cost of Goods Sold is 116.000 TL. 11. 15.000 USD is paid by the customer for USD Merchandise Sale. Rate is 7.10 TL/USD 12) Customer returned 26.000 TL + 10% VAT merchandise. Cost of Goods Sold is 8.400 TL. Check is issued for returned merchandise and TL cash is paid for VAT.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...
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