queenskmk9330
17.03.2020 •
Business
Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $52,200 with terms 3/15, n/45. On June 12, 2017, Crane received full payment for the June 1 sale.
1. Prepare the required journal entries for Crane Co.
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Ответ:
Explanation:
Crane Co
June 1. Credit: Sales $52,200
Debit: Acc receivable $52,200
Being sales on account
June 12 Debit: Bank. $ 50,634
Debit: Discount Allowed $1,566
Credit: Acc receivable. $52,200
Being payment received on sales
Ответ:
Journal entries for Crane Co.
June 1
Dr Accounts Receivable 52,200
Cr Sales Revenue 52,200
June 12
Dr Cash 50,634
Dr Sale Discounts1,566
Cr Accounts Receivable 52,200
Ответ:
Step-by-step explanation:
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