Ch.6 Class+problem - Chapter6ClassProblems...

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Click to edit Master subtitle style 12/29/10 Chapter 6 Class Problems E6-2, 8, 14; P6-2 11
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12/29/10 E6-2: Reporting Net Sales with Credit Sales,  Sales Discount and Credit Card Sales Refer to the textbook for question Required: Assuming that Sales Discount and Credit Card discounts are treated as contra-revenues, 1) Prepare journal entries for each of those transactions. 2) compute net sales for the two months ended August 31. 22
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12/29/10 E6-2: Reporting Net Sales with Credit Sales,  Sales Discount and Credit Card Sales July12: Sold merchandise to Customer R, who charged the $2,000 purchase on his Visa credit card. Visa charges Evergreen a 2 percent credit Date Account Description Debit Credit 33
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12/29/10 E6-2: Reporting Net Sales with Credit Sales,  Sales Discount and Credit Card Sales July15: Sold merchandise to Customer S at an invoice price of $7,000; terms 3/10, n/30. Date Account Description Debit Credit 44
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12/29/10 E6-2: Reporting Net Sales with Credit Sales,  Sales Discount and Credit Card Sales July 20: Sold merchandise to Customer T at an invoice price of $5,000; terms 3/10, n/30. Date Account Description Debit Credit 55
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12/29/10 E6-2: Reporting Net Sales with Credit Sales,  Sales Discount and Credit Card Sales July 23: Collected payment from Customer S from July 15 sale.
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This note was uploaded on 12/28/2010 for the course BUSINESS A ACCT101 taught by Professor Haifengyou during the Fall '10 term at HKUST.

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Ch.6 Class+problem - Chapter6ClassProblems...

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