Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. july 12 july 26 sold computers on account for $8,0

July 12 July 26 Sold computers on account for $8,000 to a customer terms 3/15...

90.2K

Verified Solution

Question

Accounting

image

image

image

image

July 12 July 26 Sold computers on account for $8,000 to a customer terms 3/15 n/30. The cost of the computers is $4,800. Received payment from the customer on balance due. Jul. 12: Sold computers on account for $8,000 to a customer, terms 3/15, n/30. The cost of the computers is $4,800 Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and Explanation Debit Credit Jul 12 Now journalize the expense related to the July 12 sale. Date Accounts and Explanation Debit Credit Jul 12 Jul. 26: Received payment from the customer on balance due. Date Accounts and Explanation Debit Credit Jul. 26

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students