4) Rally Auto Supplies Company uses a perpetual inventory system. Journalize the following sales transactions for this company. June 10 Sold $14,800 of merchandise on account, n/30. Cost of goods is $6,200. june 14 Received a $900 sales return from the customer. Cost of the goods is June 14 $400. june 20 Rally Auto Supplies receives payment from the customer for the amount June 20 due from the June 10 sale,
4) Rally Auto Supplies Company uses a perpetual inventory system. Journalize the following sales transactions for this company. June 10 Sold $14,800 of merchandise on account, n/30. Cost of goods is $6,200. june 14 Received a $900 sales return from the customer. Cost of the goods is June 14 $400. june 20 Rally Auto Supplies receives payment from the customer for the amount June 20 due from the June 10 sale,
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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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4) Rally Auto Supplies Company uses a perpetual inventory system. Journalize the following sales transactions for this company.
June 10 | Sold $14,800 of merchandise on account, n/30. Cost of goods is $6,200. |
june 14 | Received a $900 sales return from the customer. Cost of the goods is June 14 $400. |
june 20 | Rally Auto Supplies receives payment from the customer for the amount June 20 due from the June 10 sale, |
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