signment> Open Assignment CALCULATOR (a) on March 2, Borst Company sold $800,00
ID: 2334570 • Letter: S
Question
signment> Open Assignment CALCULATOR (a) on March 2, Borst Company sold $800,00 of merchandise to McLeena Company, terms 2/10, n/30. The cost of the merchandise sald was $540,000. (b) On March 6, McLeena Company returned $140,000 of the merchandise purchased on March 2. The cost of the merchandise retuned was s (c) On March 12, Borst Company received the balance due from McLeena Company. Debit Credit Date Account Titles and Explanation (a) March 2 800000 140000 (b) March 6 140000 (c) March 12Explanation / Answer
Date
Particular
Debit ($)
Credit ($)
02-Mar
Merchandise Inventory Dr
800000
Accounts Payable Cr
800000
06-Mar
Accounts Payable Dr
140000
Merchandise Inventory Cr
140000
12-Mar
Accounts Payable Dr
660000
Cash Cr
648800
Merchandise Inventory Cr
13200
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Date
Particular
Debit ($)
Credit ($)
02-Mar
Merchandise Inventory Dr
800000
Accounts Payable Cr
800000
06-Mar
Accounts Payable Dr
140000
Merchandise Inventory Cr
140000
12-Mar
Accounts Payable Dr
660000
Cash Cr
648800
Merchandise Inventory Cr
13200
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