Ch18 solutions 2-3-4-11

Ch18 solutions 2-3-4-11 - CHAPTER 18 Revenue Recognition...

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CHAPTER 18 Revenue Recognition SOLUTIONS TO EXERCISES EXERCISE 18-2 (15–20 minutes) (a) (1) 6/3 Accounts Receivable—Kim Rhode. .................... 5,000 Sales. .......................................................... 5,000 6/5 Sales Returns and Allowances. ......................................... 400 Accounts Receivable—Kim Rhode. ....................... 400 6/7 Transportation-Out. .......................................................... 24 Cash. ......................................................................... 24 6/12 Cash . ......................................................................... 4,508 Sales Discounts (2% X $4,600). ........................................ 92 Accounts Receivable—Kim Rhode. ....................... 4,600 (2) 6/3 Accounts Receivable—Kim Rhode. ................................. 4,900 Sales [$5,000 – (2% X $5,000)]. .............................. 4,900 6/5 Sales Returns and Allowances. ......................................... 392 Accounts Receivable—Kim Rhode. ....................... 392 [$400 – (2% x $400)] 6/7 Transportation-Out. .......................................................... 24 Cash. ......................................................................... 24 6/12 Cash . ......................................................................... 4,508 Accounts Receivable—Kim Rhode. ....................... 4,508 (b) 8/5 Cash . ......................................................................... 4,600 18-1
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Accounts Receivable—Kim Rhode. ....................... 4,508 Sales Discounts Forfeited. ....................................... 92
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Ch18 solutions 2-3-4-11 - CHAPTER 18 Revenue Recognition...

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