Leeann Company sold merchandise on credit to Janelle Company for $1,000 on July 1, with terms of 2/10, net /30. On July 6, Janelle returned $200 worth of merchandise claiming the materials was defective. On July 8, Leeann received a payment from Janelle and credited Accounts Receivable for $450. On July 24, Janelle Company paid the remaining balance on their account. What was the total cash received from Janelle during July?
Can anyone please explain how to calculate this prooblem.
Prepare the journal entries to record the following transactions on Panther Company’s books using a perpetual inventory system. (For multiple debit/credit entries, list accounts in order of magnitude.) (a) On March 2 Panther
Hawkeye Electric Company engaged in the following transactions during July. Journalize the preceding transactions on the books of Hawkeye Electric Company using the perpetual system of inventory. July 2 – Purchased inventory for
Question 2.) Hawkeye Electric Company engaged in the following transactions during July. July 2 – Purchased inventory for cash, $800 July 5 – Purchased store supplies on credit terms of net eom, $600. July 8 – Purchased
XO company sold merchandise on account to Brandy company, $14000 , terms FOB shipping point, 2/10, n/30. XO company paid transportation costs of $350, which were added to the invoice. The cost of the merchandise sold was $8000
Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of June. June 1 Purchased $8,100 of merchandise
Santa Fe Company purchased merchandise for resale from Mesa COmpany with an invoice price of $24,000 and credit terms of 3/10,n/60. The merchandise had cost Mesa $16,000. Santa Fe paid within the discount period. Prepare entries
Harwick Company Exercise 5-2 1. on April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2. on April 6, paid freight costs of $900 on merchandise purchased from Botham. 3.on April
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. Halifax only makes credit sales. The company began 2013 with an allowance for
Write the journal entries to record the following transactions. A) Sold merchandise on account, $11,000, terms 2/10, net 30. The cost of merchandise sold was $8,000 (2 entries required). B) Issued a credit memorandum for $500 to