1. Lenny Toralba, a businesswoman, buys imported goods from Hong Kong, at least six times a...

1. Lenny Toralba, a businesswoman, buys imported goods from Hong Kong, at least six times a year. She sells on a wholesale basis, on account, with terms of 2/10, n/30 to five leading department stores. She does not rent a store space. What journals would you advise her to use?

2. Marisol Perez, a pharmacist, opened a drugstore in Cubao. She sells only on a cash basis but buys on account from leading laboratories. She would like you to advise her on the need to use special journals and ledgers.

Expert Solution

ekkarill92 answered 1 year ago

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