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Trade and Cash Discount, Problem #1

This document records various transactions in June 2019 for Eleno Buray Jr. Forest Products. It shows accounts receivable being recorded on June 1 for sales, and then payments being received against those receivables later in the month, with some sales discounts taken.

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Feiya Liu
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5K views

Trade and Cash Discount, Problem #1

This document records various transactions in June 2019 for Eleno Buray Jr. Forest Products. It shows accounts receivable being recorded on June 1 for sales, and then payments being received against those receivables later in the month, with some sales discounts taken.

Uploaded by

Feiya Liu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Eleno Buray Jr.

Forest Products

Date Debit Credit


2019
a. June 1 Accounts Receivable 84,000
Sales 84,000

b. 1 Accounts Receivable 72,000


Sales 72,000

c. 1 Accounts Receivable 120,000


Sales 120,000

d. 1 Accounts Receivable 96,000


Sales 96,000

e. 1 Accounts Receivable 72,000


Sales 72,000

a. 8 Cash 82,320
Sales Discount 1,680
Accounts Receivable 84,000

c. 11 Cash 117,600
Sales Discount 2,400
Accounts Receivable 120,000

d. 14 Cash 95,040
Sales Discount 960
Accounts Receivable 96,000

b. 15 Cash 72,000
Accounts Receivable 72,000

e. 28 Cash 72,000
Accounts Receivable 72,000

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