43% Sun 11 hool gold-soul.la women\'s swi... shophearts Job Description iCloud B

Question

43% Sun 11 hool gold-soul.la women's swi... shophearts Job Description iCloud Bing Yahoo Google Wikipedia Facebook Twitter Lnkedi 2017 VITATCE Certificati. Mail Saved Help Save& ExitSub Check my work Exercise 7-7 Cash discounts; the net method [LO7-3 Harwell Company manufactures automobile tires. On July 15, 2018, the company sold 2,500 tires to the Nixon Car Company for $60 each. The terms of the sale were 3/10, n/30. Harwell uses the net method of accounting for cash discounts. Required: 2. Prepare the journ 1. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2018 al entries to record the sale on July 15 lignore cost of goods) and payment on August 15, 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on July 23, 2018. (t no entry is required for a transaction/event, select "No journal entry required" in the first account field.) K Prev 6 of 7 Next> e go g 1

Explanation / Answer

1 15-Jul-16 Accounts receivable 145500 =2500*60*(1-0.03)           Sales revenue 145500 23-Jul-16 Cash 145500          Accounts receivable 145500 2 15-Jul-16 Accounts receivable 145500           Sales revenue 145500 15-Aug-16 Cash 150000          Interest revenue 4500          Accounts receivable 145500

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.