Nov. 8 10 11 12 15 19 20 22 25 27 28 Paid $2,130 for salaries due employees, of which $1,110 is for November and $1,020 is for October. Received $1,140 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $4,800, terms 2/10, n/30. Sold merchandise on account for $3,300, terms 2/10, n/30. The cost of the merchandise sold was $2,400. Received credit from Dimas Discount Supply for merchandise returned $200. Received collections in full, less discounts, from customers billed on sales of $3,300 on November 12. Paid Dimas Discount Supply in full, less discount. Received $1,380 cash for services performed in November. Purchased equipment on account $3,000. Purchased supplies on account $1,020. Paid creditors $1.800 of accounts payable due.
Nov. 8 10 11 12 15 19 20 22 25 27 28 Paid $2,130 for salaries due employees, of which $1,110 is for November and $1,020 is for October. Received $1,140 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $4,800, terms 2/10, n/30. Sold merchandise on account for $3,300, terms 2/10, n/30. The cost of the merchandise sold was $2,400. Received credit from Dimas Discount Supply for merchandise returned $200. Received collections in full, less discounts, from customers billed on sales of $3,300 on November 12. Paid Dimas Discount Supply in full, less discount. Received $1,380 cash for services performed in November. Purchased equipment on account $3,000. Purchased supplies on account $1,020. Paid creditors $1.800 of accounts payable due.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 5PA: The following transactions were completed by Nelsons Boutique, a retailer, during July. Terms of...
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