March 3 purchased merchandize on account from hasbro co, Ask an Expert

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March 3. Purchased merchandize on account from Hasbro co. List price $16,000, trade discount 30%, terms FOB shipping point, 2/10, n/30 with prepaid transportation costs of $800 added to the invoice.

Purchased merchandise on account from anne co. $7000, terms FOB destination 1/10,n/30
Sold merchandise on account to Howl Co, list price $5000, trade discount 20% terms 2/10,n/30. The cost of merchandise sold was $1500
Received cash on account from sales of Mar 5 to Howl co. less discount

Sold merchandise on nonbank credit cards and reported account to the car company $3500. The cost of merchandise sold was $2000.Received cash from card company credit card sales of mar 20, less $400 service fee.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9971935

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