Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n.30). Apr. 2 Purchased $14, 200 of nerchandise on credit from Noth Company, terms 2/1e, n/6e. 3 (a) Sold nerchandise on credit to Page Alistair, Invoice No. 76e, for $4,200 (cost is $3,700). 3 (b) Purchased $1,410 of office supplies on credit fron Custer, Inc. terms n/3e. Issued Check No. 587 to korld View for advertising expense of $915. Sold nerchandise on credit to Paula Kohr, Invoice No. 761, for $10,00e (cost is $7, 200). Returned $7e of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that Purchased $1e,51e of store equipnent on credit fron Hal's Supply, terms n/30. Sold nerchandise on credit to Nic Nelson, Invoice No. 762, for $13,600 (cost is $7,1ee). Issued Check No. 588 to Noth Company in paynent of its April 2 purchase less the discount of $284. 6 11 12 13 (a) Received payment fron Page Alistair for the Apri1 3 sale less the discount of $84. 13 (b) Sold $6,e0e of merchandise on credit to Page Alistair (cost is $4,480), Invoice No. 763.
Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n.30). Apr. 2 Purchased $14, 200 of nerchandise on credit from Noth Company, terms 2/1e, n/6e. 3 (a) Sold nerchandise on credit to Page Alistair, Invoice No. 76e, for $4,200 (cost is $3,700). 3 (b) Purchased $1,410 of office supplies on credit fron Custer, Inc. terms n/3e. Issued Check No. 587 to korld View for advertising expense of $915. Sold nerchandise on credit to Paula Kohr, Invoice No. 761, for $10,00e (cost is $7, 200). Returned $7e of office supplies purchased on April 3 to Custer, Inc. Wiset reduces accounts payable by that Purchased $1e,51e of store equipnent on credit fron Hal's Supply, terms n/30. Sold nerchandise on credit to Nic Nelson, Invoice No. 762, for $13,600 (cost is $7,1ee). Issued Check No. 588 to Noth Company in paynent of its April 2 purchase less the discount of $284. 6 11 12 13 (a) Received payment fron Page Alistair for the Apri1 3 sale less the discount of $84. 13 (b) Sold $6,e0e of merchandise on credit to Page Alistair (cost is $4,480), Invoice No. 763.
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 3PB
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