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Unformatted text preview: In no event may a customer apply the cash discount terms to freight charges. Prepare journal entries to record the sale and subsequent collection for each of the following transactions: Transaction Customer Status List Price Freight Cost Date of Sale Date of Payment 1 Preferred 1,500 $ 125 $ 3-Jun 9-Jun 2 Regular 300 30 7-Jun 20-Jun 3 Preferred 700 45 9-Jun 20-Jun 4 Regular 2,000 200 10-Jun 17-Jun 5 Regular 1,800 230 12-Jun 29-Jun 6 Preferred 2,400 180 15-Jun 27-Jun...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11