Recording sales transaction for Perez Computers Inc.July 1 - sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to record cash discounts. Perez estimates allowances of $1,300 will be honored on these sales.July 10 - Perez received payment from Robertson for the full amount owed from the July transactions.July 17 - Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.July 30 - The Clark Store paid Perez for its purchase of July 17Prepare the necessary journal entries for Perez Computers

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Asked Oct 28, 2019
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Recording sales transaction for Perez Computers Inc.

July 1 - sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to record cash discounts. Perez estimates allowances of $1,300 will be honored on these sales.

July 10 - Perez received payment from Robertson for the full amount owed from the July transactions.

July 17 - Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.

July 30 - The Clark Store paid Perez for its purchase of July 17

Prepare the necessary journal entries for Perez Computers

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Journal entry: Journal entry is a set of economic events which can be measured in mone...

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