Question
(a)   On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $17,200, terms 2/10, n/30.
(b)   On July 8, Waegelein Inc. returned merchandise worth $3,800 to RAS Co.
(c)   On July 11, Waegelein Inc. paid for the merchandise.
Record the following transactions on the books of RAS Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is
entered. Do not indent manually.)
(a) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $17,200, terms 2/10, n/30.
(b) On July 8, Waegelein Inc. returned merchandise worth $3,800 to RAS Co.
(c) On July 11, Waegelein Inc. paid for the merchandise.
Account Titles and Explanation
Debit
Credit
(a)
(b)
(c)
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Transcribed Image Text:Record the following transactions on the books of RAS Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $17,200, terms 2/10, n/30. (b) On July 8, Waegelein Inc. returned merchandise worth $3,800 to RAS Co. (c) On July 11, Waegelein Inc. paid for the merchandise. Account Titles and Explanation Debit Credit (a) (b) (c)
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