the series of seven transactions recorded in the following t accounts were related t 549734
EX 9-21 Entries for notes receivable
The series of seven transactions recorded in the following T accounts were related to a sale to a customer on account and the receipt of the amount owed. Briefly describe each transaction.
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the series of seven transactions recorded in the following t accounts were related t 549734
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|
CASH |
NOTES RECEIVABLE |
|||||||
|
(7) |
40,602 |
(5) |
40,000 |
(6) |
40,000 |
|||
|
ACCOUNTS RECEIVABLE |
SALES RETURNS AND ALLOWANCES |
|||||||
|
(1) |
50,000 |
(3) |
10,000 |
(3) |
10,000 |
|||
|
(6) |
40,400 |
(5) |
40,000 |
|||||
|
(7) |
40,400 |
|||||||
|
MERCHANDISE INVENTORY |
COST OF MERCHANDISE SOLD |
|||||||
|
(4) |
6,000 |
(2) |
30,000 |
(2) |
30,000 |
(4) |
6,000 |
|
|
SALES |
INTEREST REVENUE |
|||||||
|
(1) |
50,000 |
(6) |
400 |
|||||
|
(7) |
202 |
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