Prepare journal entries for the following transactions.
Oct.
5 Sold merchandise on account t...
Business, 12.04.2021 21:10 soldierboy771
Prepare journal entries for the following transactions.
Oct.
5 Sold merchandise on account to B. Farnsby for $280 plus sales tax of 4%.
8 Sold merchandise on account to F. Preetee for $240 plus sales tax of 4%, with 2/10, n/30 cash discount terms.
11 F. Preetee returned merchandise purchased on October 8 for $50 plus sales tax for credit.
17 F. Preetee paid the balance due on her account.
18 B. Farnsby returned merchandise purchased on October 5 for $60 plus sales tax for credit.
20 B. Farnsby paid the balance due on his account.
Required:
Prepare journal entries.
Answers: 3
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