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Q1) On 3/15, Janet's Spa bought 90 plush robes from Randy's Spa Supplies. Randy's charged Janet's Spa $15,750 for the robes. Shipment was delivered FOB Shipping. Freight bill was for $270. Randy paid shipper and included amount in Janet's invoice. Credit terms offered by Randy's were 1/10, n/30. Randy's inventory records show value of $6,480 for the robes.

1. Create sales portion of entry for this sale on Randy's books.

2. Create cost of sales portion of entry for this sale on Randy's books.

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  • Category:- Accounting Basics
  • Reference No.:- M920744

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