Paid freight to ship one of the bikes sold in #4 above directly to the customer.
ID: 2388546 • Letter: P
Question
Paid freight to ship one of the bikes sold in #4 above directly to the customer. Cost was $45 and was paid by check.
Customer from #4 returned one of the bikes.
Received check from customer on 1/22 to pay balance on invoice for $1,000. Invoice was dated 1/15 with credit terms 2/10. net 30.
PLS journalize these enries properly.
Paid freight to ship one of the bikes sold in #4 above directly to the customer. Cost was $45 and was paid by check.
Customer from #4 returned one of the bikes.
Received check from customer on 1/22 to pay balance on invoice for $1,000. Invoice was dated 1/15 with credit terms 2/10. net 30.
Explanation / Answer
I guess this is connected to the previous question like this I answered... Paid freight to ship one of the bikes sold in #4 above directly to the customer. Cost was $45 and was paid by check. Freight out exp 45 Cash 45 Customer from #4 returned one of the bikes. Sales retns & allowan 200 AR 200 Inventory 120 Cost of goods sold 120 Received check from customer on 1/22 to pay balance on invoice for $1,000. Invoice was dated 1/15 with credit terms 2/10. net 30. Cash 980 Sales Discounts 20 AR 1,000
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