Presented below is information from Perez Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses thegross method to record cash discounts. Perez estimates allowances of $1,300 will be honoredon these sales. 10 Perez received payment from Robertson for the full amount owed from the July transactions. 17 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Perez for its purchase of July 17. Instructions Prepare the necessary journal entries for Perez Computers.
Presented below is information from Perez Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses thegross method to record cash discounts. Perez estimates allowances of $1,300 will be honoredon these sales. 10 Perez received payment from Robertson for the full amount owed from the July transactions. 17 Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. 30 The Clark Store paid Perez for its purchase of July 17. Instructions Prepare the necessary journal entries for Perez Computers.
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 8PB: Air Compressors Inc. purchases compressor parts for its inventory from a supplier. The following...
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Presented below is information from Perez Computers Incorporated.
| July 1 | Sold $20,000 of computers to Robertson Company with terms 3/15, n/60. Perez uses the gross method to record cash discounts. Perez estimates allowances of $1,300 will be honored on these sales. |
|
| 10 | Perez received payment from Robertson for the full amount owed from the July transactions. | |
| 17 | Sold $200,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30. | |
| 30 | The Clark Store paid Perez for its purchase of July 17. |
Instructions
Prepare the necessary
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