Question

Presented below is information from Whispering Computers Incorporated.

July 1		Sold $18,400 of computers to Robertson Company with terms 3/15, n/60. Whispering uses the gross method to record cash discounts. Whispering estimates allowances of $1,196 will be honored on these sales.
10		Whispering received payment from Robertson for the full amount owed from the July transactions.
17		Sold $184,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.
30		The Clark Store paid Whispering for its purchase of July 17.

Prepare the necessary journal entries for Whispering Computers. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date                                                          July 1July 10July 17July 30	enter an account title to record sales revenue	enter a debit amount	enter a credit amount
	enter an account title to record sales revenue	enter a debit amount	enter a credit amount
	(To record sales revenue.)
	enter an account title to record allowance for sales returns	enter a debit amount	enter a credit amount
	enter an account title to record allowance for sales returns	enter a debit amount	enter a credit amount
	(To record allowance for sales returns.)
choose a transaction date                                                          July 1July 10July 17July 30	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date                                                          July 1July 10July 17July 30	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a debit amount
choose a transaction date                                                          July 1July 10July 17July 30	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a debit amount

Answer 1

Date	Account title and Explanation	Debit	Credit
July 1	Accounts receivable	$18,400
	Sales revenue		$18,400
	[To record sales revenue]
	Sales returns and allowance	$1,196
	Allowance for sales returns and allowance		$1,196
	[To record allowance for sales returns]
July 10	Cash	$17,848
	Sales discount [18400 x 3%]	$552
	Accounts receivable		$18,400
	[To record collections from customers]
July 17	Accounts receivable	$184,000
	Sales revenue		$184,000
	[To record sales revenue]
July 30	Cash	$184,000
	Accounts receivable		$184,000
	[To record collections from customers]