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-   -   Journalizing Buyer and Seller (https://www.askmehelpdesk.com/showthread.php?t=416780)

  • Nov 17, 2009, 08:46 AM
    Seawolves4life
    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.
  • Nov 18, 2009, 09:04 PM
    morgaine300

    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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