Answered: 9) Customer returned 14.000 TL + %10…

9) Customer returned 14.000 TL + %10 VAT merchandise . Cost of Goods Sold is 8.400 TL. Check is issued for Refund to ,returned merchandise and TL cash is paid for VAT.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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Question

Journal entry transactions-double entry system

9) Customer returned 14.000 TL + %10 VAT merchandise . Cost of Goods Sold is 8.400 TL. Check is issued for Refund to ,returned merchandise and
TL cash is paid for VAT.

At the end of the month USD is : 7.10TL/ USD .

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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