Question

Presented below are transactions related to Bogner Company 1. 2. on December 3, Bogner Company sold 50,000 cf n allowance of $29,500 for merchandise purchased on December 3. merchandise to Maris Co., terms 2/10·n/30. FOB shipping point. The cost of the merchandise sold was $353,000. On December 8, Marls Co. was granted a . On December 12, Bogner Company recaived the balance due trom Maris Co al entries to record these transactions on the books of Bogner Company using a perpetual inventory system. ( If no entry is required, select “No Entry for the account titlies and enter o for the am Credit account titles are automatically indented when amoumt is en No. Date Account Titles and Explanation Debit Credit (To record creät sale) (To record cost of merchandine sol) 3. Dec. 13 Assume that automatically indented when amount is entered. De not indent manually. If no entry is regulred, select “No t Company recelived the balance due from Maris Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. ( for the amounts) ntry” for the account titles and onder Date Account Titles and Explanation Credit



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