Page 1 of 1
Question - 3: [5] Presented below are transactions related to Y Inc.: Jan 10 : Purchased goods billed at $30,000 subject
Posted: Wed Jul 06, 2022 6:23 am
by answerhappygod
- Question 3 5 Presented Below Are Transactions Related To Y Inc Jan 10 Purchased Goods Billed At 30 000 Subject 1 (84.69 KiB) Viewed 11 times
Question - 3: [5] Presented below are transactions related to Y Inc.: Jan 10 : Purchased goods billed at $30,000 subject to terms of 2/10, n/60. Jan 12 : Purchased goods billed at $14,000 subject to terms of 1/15, n/30. Jan 15 Paid invoice of Jan 10. Jan 31 : Paid invoice of Jan 12. Instructions: Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net price method. :