GL0701 - Based on Problem 7-1A LO P1
Sanchez Company completes these transactions and events during
March of the current year (terms for all its credit sales are 2/10,
n/30).
Mar.
1
Purchased $45,300 of merchandise
from Lee Industries, invoice dated March 1, terms 2/15, n/30.
Mar.
2
Sold merchandise on credit to
Gonzalez Co., Invoice No. 854, for $37,200 (cost is $22,000).
Mar.
3
Purchased $1,300 of office supplies
on credit from Walker Company, invoice dated March 3, terms...