Kendall Company recorded the following transactions during 2014: a.On January 1, they sold $8,000 worth of merchandise to a customer on account with the terms 2/10, n/30. b.On January 5, the customer returned $400 worth of damaged goods, which were thrownaway. c.On January 8, the customer paid for the goods. Based on the transactions provided by Kendall Company, what are the net sales for this period? A. $7,440 B. $7,448 C. $8,000 D. $8,348
Kendall Company recorded the following transactions during 2014: a.On January 1, they sold $8,000 worth of merchandise to a customer on account with the terms 2/10, n/30. b.On January 5, the customer returned $400 worth of damaged goods, which were thrownaway. c.On January 8, the customer paid for the goods. Based on the transactions provided by Kendall Company, what are the net sales for this period? A. $7,440 B. $7,448 C. $8,000 D. $8,348
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 1PB: Record journal entries for the following transactions of Furniture Warehouse. A. July 5: Purchased...
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Kendall Company recorded the following transactions during 2014:
a.On January 1, they sold $8,000 worth of merchandise to a customer on account with the terms 2/10, n/30.
b.On January 5, the customer returned $400 worth of damaged goods, which were thrownaway.
c.On January 8, the customer paid for the goods.
Based on the transactions provided by Kendall Company, what are the net sales for this period?
A. $7,440
B. $7,448
C. $8,000
D. $8,348
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