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Montalvo Company uses special journals and a general journal. The following transactions occurred during September 2010.Sept 2 Sold merchandise on account to T. Hossfeld, invoice no. 101, $720, terms n/30. The cost of the merchandise sold was $420.10 Purchased merchandise on account from L. Rincon $600, terms 2/10, n/30.12 Purchased office equipment on account from R. Press $6,500.21 Sold merchandise on account to P. Lowther, invoice no. 102 for $800, terms 2/10, n/30. The cost of the merchandise sold was $480.25 Purchased merchandise on account from W. Barone $860, terms n/30.27 Sold merchandise to S. Miller for $700 cash. The cost of the merchandise sold was $400.

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Accounting Basics, Accounting

Category:- Accounting Basics
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