Unformatted text preview: company takes all discounts to which it is entitled.-Oct.20 Sold merchandise for $10000 to Ed Gray on account. The cost of the merchandise sold was $6000. Credit terms: 2/10, n/30.-Oct.22 Purchased a 2-yr insurance policy for $2400 cash.-Oct.25 Issued Credit Memo No. 151 to Ed Gray for $1000 for merchandise returned by him from the sale on Oct 20. The cost of merch returned was $600. -Oct.29Purchased ofc equip for $25000 paying $6000 cash and signing a 3-mo 9% note for remainder....
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This note was uploaded on 04/04/2009 for the course ACC 321 taught by Professor Ahmedmokhtar during the Spring '09 term at Ain Shams University.
- Spring '09
- Financial Accounting