Business, 24.04.2020 23:21 carolynhstevens
On June 10, Splish Brothers Company purchased $7,800 of merchandise from Sunland Company, on account, terms 4/10, n/30. Splish Brothers pays the freight costs of $370 on June 11. Goods totaling $800 are returned to Sunland for credit on June 12. On June 19, Splish Brothers Company pays Sunland Company in full, less the purchase discount. Both companies use a perpetual inventory system.
Required:
a. Prepare separate entries for each transaction on the books of Sunland Company. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts)
Answers: 1
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On June 10, Splish Brothers Company purchased $7,800 of merchandise from Sunland Company, on account...
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