Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. transactions for buyer and seller shore co. sold m

Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account,...

50.1K

Verified Solution

Question

Accounting

image
image
Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,200, terms FOB shipping point, 2/10, nv/30. The cost of the goods sold is $66,720. Shore paid freight of $1,900 Journalize Shore Co's entry for the sale, purchase, and payment of amount due. Accounts Receivable-Blue Star Co. 1089, V Sales 108.976 Cost of Goods Sold Inventory 66720 Accounts Recelvable-Blue Star Co. 1,900 Cash 1,900 Cash y 110876 Accounts Receivable-Blue Star Co. 11076 Note who is the buyer ans who is the seller The payment is less retums and discounts, and discounts are not taken on returns. if applicable, determine whether the buyer or seilier is to pay any treight Leaming Objeative 2

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

Basic Math
1.2K views

For each of the following vector fields F , decide whether it is conservative or not...

Basic Math
1.2K views

Suppose that diastolic blood pressure readins of adult male have a bell-shaped distribution with a mean...

Psychology
1.2K views

Gloria and Lakeisha are co-workers who are assigned to work on a project together. Lakeisha is...

Advance Math
1.2K views

1. Use the midpoint of each subinterval for the value of each ck to find the...

General Management
1.2K views

Describe equity investment and the risks of these investments for both the investor and the capital...

General Management
1.2K views

In John Haye’s seven step model of Change Management, contrast steps one and two. What are...

General Management
1.2K views

Consider the following newsvendor environment with sales season in August (school year start). We are now...

Geometry
1.2K views

Find the outer perimeter 10 ft 20 ft 15 ft Remember Co 2 r P...

Basic Math
1.2K views

7 93 8 This problem is a checkpoint for solving and graphing inequalities It will...

Statistics
1.2K views

X 0 1 2 3 P x 0 3 0 1 0 15 0 45...

Accounting
1.2K views

Assume the following FHA mortgage loan information: loan amount: $400,000; (annual) interest rate: 4.50%; original...

Accounting
1.2K views

lli. 0:- Q ACCT225... ACCT 225 project> Task 2: What is the best alternative for...