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Presented below are transactions related to Whispering Winds Corp.. On December 3, Whispering Winds...

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Accounting

Presented below are transactions related to Whispering Winds Corp..
On December 3, Whispering Winds Corp. sold $647,000 of merchandise on account to Martinez Co., terms 310,n30, FOB shipping point. The cost of the merchandise sold was $372,800.
On December 8, Martinez Co. was granted an allowance of $22,000 for merchandise purchased on December 3.
On December 13, Whispering Winds Corp. received the balance due from Martinez Co.
(a) and enter O for the amounts.)
No.
Date
Account Titles and Explanation
Debit
Credit
(To record credit sale)
(To record cost of merchandise sold)
image

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