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ABC Company had the following transactions during April. Journal each a. April 1, ordered $3000 worth...

ABC Company had the following transactions during April. Journal each a. April 1, ordered $3000 worth of merchandise with the terms 3/15n45, FOB destination point. The goods arrived on April 4. b. April 6, returned $100 worth of merchandise received April 4 because of defects c. April 8, sold merchandise for $350 on account. The original cost of the goods was $275. d. April 15, paid for good received on April 4. e. April 16, $50 worth of merchandise sold with an original cost of $30 were returned from the sale made on April 6 f. April 20, received payment in full from the April 6 sale.

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ekkarill92 answered 1 year ago
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