The Giles Agency offers a 10% trade discount when providing advertising services of $1,000 or more...

The Giles Agency offers a 10% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s Antiques decides to purchase advertising services of $3,100 (not including the trade discount), while Michael’s Motors purchases only $660 of advertising. Both services are provided on account.

Record both transactions for The Giles Agency, accounting for any trade discounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Record the services provided to Audrey's Antiques.
Record the services provided to Michael's Motors.

Expert Solution

Here are the journal Entries

ekkarill92 answered 1 year ago

The Giles Agency offers a 8% trade discount when providing advertising services of $1,000 or more...

The Giles Agency offers a 8% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s Antiques decides to purchase advertising services of $3,000 (not including the trade discount), while Michael’s Motors purchases only $650 of advertising. Both services are provided on account. Record both transactions for The Giles Agency, accounting for any trade discounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry...

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