Widgets & Gadgets in a merchandiser that sells gadgets and widgets. They had the following transactions in the month of June, 2020 Task: Journalize these transactions for Widgets & Gadgets Purchased gadgets and widgets from Unicorn Suppliers on account for 500,000 BDT. FOB Shipping Point - Shipping cost of 01-Jun 5,000 paid in cash. Discount terms 1/10, n/45. Sold gadgets to Star Traders for 75,000 BDT on account. The cost of these gadgets was 45,000 BDT. Terms 3/15, n/30, FOB Destination. 02-Jun Freight of 1,500 BDT paid in cash. Returned gadgets worth 50,000 BDT to Unicorn Suppliers because 04-Jun they were defective. Received full credit.
Widgets & Gadgets in a merchandiser that sells gadgets and widgets. They had the following transactions in the month of June, 2020 Task: Journalize these transactions for Widgets & Gadgets Purchased gadgets and widgets from Unicorn Suppliers on account for 500,000 BDT. FOB Shipping Point - Shipping cost of 01-Jun 5,000 paid in cash. Discount terms 1/10, n/45. Sold gadgets to Star Traders for 75,000 BDT on account. The cost of these gadgets was 45,000 BDT. Terms 3/15, n/30, FOB Destination. 02-Jun Freight of 1,500 BDT paid in cash. Returned gadgets worth 50,000 BDT to Unicorn Suppliers because 04-Jun they were defective. Received full credit.
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 2PB: Record journal entries for the following transactions of Mason Suppliers. A. Sep. 8: Purchased 50...
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