Assume Bella Donna’s General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $1,610. The company paid $104 in transportation cost to National Trucking to deliver the merchandise to Bella Donna. Bella Donna immediately returned goods to American Wholesaling costing $540, and then took advantage of American Wholesaling’s 1/10, n/30 purchase discount. When Bella Donna pays American Wholesale within the discount period, the credit to cash will be $______.
Assume Bella Donna’s General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $1,610. The company paid $104 in transportation cost to National Trucking to deliver the merchandise to Bella Donna. Bella Donna immediately returned goods to American Wholesaling costing $540, and then took advantage of American Wholesaling’s 1/10, n/30 purchase discount. When Bella Donna pays American Wholesale within the discount period, the credit to cash will be $______.
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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Assume Bella Donna’s General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $1,610. The company paid $104 in transportation cost to National Trucking to deliver the merchandise to Bella Donna. Bella Donna immediately returned goods to American Wholesaling costing $540, and then took advantage of American Wholesaling’s 1/10, n/30 purchase discount.
When Bella Donna pays American Wholesale within the discount period, the credit to cash will be $______.
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