Chapter 6 B Problem Solutions

Chapter 6 B Problem Solutions - Prob 65B Apr 3 Merchandise...

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Prob. 6–5B Apr. 3 Merchandise Inventory. ....................................... 25,200 Accounts Payable—Prescott Co. . ................ 25,200 [$42,000 – ($42,000 × 40%)] = $25,200. 4 Cash. ...................................................................... 18,200 Sales. ................................................................ 18,200 4 Cost of Merchandise Sold. .................................. 11,000 Merchandise Inventory. .................................. 11,000 5 Merchandise Inventory. ....................................... 21,900 Accounts Payable—Stafford Co. . ................. 21,900 6 Accounts Payable—Prescott Co. . ...................... 6,000 Merchandise Inventory. .................................. 6,000 11 Accounts Receivable—Logan Co. . .................... 6,800 Sales. ................................................................ 6,800 [$8,500 – ($8,500 × 20%)] = $6,800. 11
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Chapter 6 B Problem Solutions - Prob 65B Apr 3 Merchandise...

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