DATE TRANSACTIONS 20x1 pril 1 Sold merchandise for $4,500 to Alto Music Center; issued Invoice 3912 with terms of 1/10, n/30. 3 Received a check for $1,98e from Music Supply Store in payment of Invoice 2718 of March 25 ($2,000), less cash discount ($20). 5 Sold merchandise totaling $1,725 in cash to a new customer who has not yet established credit. 7 Merchandise of $80 sold on April 5 is returned for a cash refund. 8 Sold merchandise for $6,500 to Music Warehouse; issued Invoice 3913 with terms of 2/10, n/30. 10 Received payment from Alto Music Center in payment of Invoice 3912, less cash discount. 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $2,300. The original sale was made on Invoice 3913 on April 8. 17 Received payment from Music Warehouse for the sale of April 8, less the return on April 15; Music Warehouse deducted the appropriate cash discount from its payment. 19 Received a check for $2,300 as payment in full from Oldies Sounds for Invoice 3850 dated March 20. 20 Sold merchandise for $11, 200 to Hawk Music Center; issued Invoice 3914 with terms of 2/10, n/30. 25 Sold merchandise for $10,800 to Modern Sounds; issued Invoice 3915 with terms of 2/10, n/30. 26 Sold merchandise for $8,600 to Country Tunes; issued Invoice 3916 with terms of 2/10, n/30. 27 Accepted a return of damaged merchandise from Modern Sounds; issued Credit Memorandum 106 for $500. The original sale was made on Invoice 3915 on April 25. 29 Received payment from Hawk Music Center for the sale of April 20, less cash discount. 30 Sold merchandise for $3,200 to Oldies Sounds; issued Invoice 3917 with terms of 2/10, n/30. Required: Record the transactions in a general journal. Analyze: What was the amount of the cash discount taken by Hawk Music Center on April 29?
DATE TRANSACTIONS 20x1 pril 1 Sold merchandise for $4,500 to Alto Music Center; issued Invoice 3912 with terms of 1/10, n/30. 3 Received a check for $1,98e from Music Supply Store in payment of Invoice 2718 of March 25 ($2,000), less cash discount ($20). 5 Sold merchandise totaling $1,725 in cash to a new customer who has not yet established credit. 7 Merchandise of $80 sold on April 5 is returned for a cash refund. 8 Sold merchandise for $6,500 to Music Warehouse; issued Invoice 3913 with terms of 2/10, n/30. 10 Received payment from Alto Music Center in payment of Invoice 3912, less cash discount. 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 105 for $2,300. The original sale was made on Invoice 3913 on April 8. 17 Received payment from Music Warehouse for the sale of April 8, less the return on April 15; Music Warehouse deducted the appropriate cash discount from its payment. 19 Received a check for $2,300 as payment in full from Oldies Sounds for Invoice 3850 dated March 20. 20 Sold merchandise for $11, 200 to Hawk Music Center; issued Invoice 3914 with terms of 2/10, n/30. 25 Sold merchandise for $10,800 to Modern Sounds; issued Invoice 3915 with terms of 2/10, n/30. 26 Sold merchandise for $8,600 to Country Tunes; issued Invoice 3916 with terms of 2/10, n/30. 27 Accepted a return of damaged merchandise from Modern Sounds; issued Credit Memorandum 106 for $500. The original sale was made on Invoice 3915 on April 25. 29 Received payment from Hawk Music Center for the sale of April 20, less cash discount. 30 Sold merchandise for $3,200 to Oldies Sounds; issued Invoice 3917 with terms of 2/10, n/30. Required: Record the transactions in a general journal. Analyze: What was the amount of the cash discount taken by Hawk Music Center on April 29?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter4: Accounting For Retail Operations
Section: Chapter Questions
Problem 4.2P: Sales-related transactions The- following selected transactions were completed by Affordable...
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