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    Seawolves4life's Avatar
    Seawolves4life Posts: 2, Reputation: 1
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    #1

    Nov 17, 2009, 08:46 AM
    Journalizing Buyer and Seller
    Based on the information below, journalize the entries for seller and buyer. Both use perpetual inventory system:

    A) Seller sells Buyer on account merchadise costing $245 for $645, terms 2/10, net 30, FOB destination. The freight charge is $45.

    B) Buyers returns as defective $145 worth of the $645merchandise received. The sellers cost is $70.

    C) Buyer pays within the discount period.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Nov 18, 2009, 09:04 PM

    Please see the guidelines for posting homework problems:
    https://www.askmehelpdesk.com/accoun...od-348245.html

    Have you made some attempt at this?

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