- production cost accounting
- accounting diploma
- window installation cost
A-Sold merchandise on account to Chair Lift Company for $18,746, terms 2/10, n/30, FOB shipping point. The merchandise had a cost of $13,390.
B-Chair Lift Company returned $1,250 of the merchandise it purchased. Winter Wonderland issued Chair Lift Co. a credit memo. The merchandise had a cost reflecting the normal mark up to arrive at selling price. The merchandise was defective and was not returned to inventory.
how do you record the following transactions?
thanks for your help in advance.
B-Chair Lift Company returned $1,250 of the merchandise it purchased. Winter Wonderland issued Chair Lift Co. a credit memo. The merchandise had a cost reflecting the normal mark up to arrive at selling price. The merchandise was defective and was not returned to inventory.
how do you record the following transactions?
thanks for your help in advance.
Basic accounting questions?
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