1ra. parte de examen

1ra. parte de examen - Sansomite Co. distributes suitcases...

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Sansomite Co. distributes suitcases to retail stores and extends credits terms of 1/10, n/30 to all of its customers. At the end of June Sansomite’s inventory consisted of suitcases costing $1,200. During the month of July the following merchandising transaction occurred. Jul/1 Purchased suitcase on account for $1,800 from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date. Jul/ 3 Sold suitcases on account to Satchel World for $2,000. The cost of suitcases sold is $1,200. Jul/ 9 Paid Trunk Manufacturers in full. Jul/12 Received payment in full from Satchel World. Jul/17 Sold suitcases on account to the going concern from 1,500. The cost of the suitcases sold was $900. Jul/18 Purchased suitcase on account for $1,700 from Kingman Manufacturers, FOB shipping point, terms 1/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date. Jul/20
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This note was uploaded on 02/02/2012 for the course ACCO 3000 taught by Professor Rein during the Spring '11 term at American International.

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1ra. parte de examen - Sansomite Co. distributes suitcases...

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