Question
The following transaction are for Kale company. Jurnalize sales transaction 1- on Dec 3 Kale sold...
The following transaction are for Kale company. Jurnalize sales transaction
1- on Dec 3 Kale sold 480.000 of marchandise to thomes terms 1/10, n/30. the cost of the marchandies sold was 320.000
2- on Dec8 thomes was garnted all allowance of 28,000 for marchandies purchased on Dec3
3- on Dec 13 Kale recived the balance due from thomes
A) Prepare the jurnal entries to record these transaction on the book of Kale. Kale use a perpetual inventory system.
B) Assume that Kale recived the balance due from thomes. on Jan 2 of the following year instead of Dec13. Prepare journal entry to record the receipt of payment on Jan 2
Please explain every number from where comes. Just to be clear.
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