Hinson 8-2 Trade and Cash Discounts

Hinson 8-2 Trade and Cash Discounts - 60,000 Accounts...

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Intermediate Accounting I Assignment 8-2 Trade and Cash Discounts Jamie Hinson February 26, 2008 Exercise 7-3 Gross Method Net Method 1. November 17, 2006 Accounts receivable 60,000 Accounts receivable 42,000 Sales revenue 60,000 Sales revenue 42,000 November 26, 2006 Cash 42,000 Cash 60,000 Sales discount 18,000 Accounts receivable
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Unformatted text preview: 60,000 Accounts receivable 60,000 2 & 3. November 17, 2006 Accounts receivable 60,000 Accounts receivable 42,000 Sales revenue 60,000 Sales revenue 42,000 December 15, 2006 Cash 60,000 Cash 60,000 Accounts receivable 60,000 Accounts receivable 42,000 Interest revenue 18,000...
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