On January 4 Crossway Co. sold merchandise to Mallard Companyfor $25,500, terms 2/10, n/60; shipping terms were FOB Destination.The merchandise had a cost of $14,000 to Crossway Co.
2. On January 6 Crossway paid freight costs of $500.
3. On January 8 Mallard returned $2,500 of the merchandisepurchased on January 4 to Crossway and received credit. Themerchandise had a cost of $1,400 to Crossway.
4. On January 9 Mallard paid the amount due to Crossway.
--Record the necessary journal entries for CrosswayCo. Omit explanations.
1. On January 4 Crossway Co. sold merchandise to Mallard Companyfor $25,500, terms 2/10, n/60; shipping terms were FOB Destination.The merchandise had a cost of $14,000 to Crossway Co.
2. On January 6 Crossway paid freight costs of $500.
3. On January 8 Mallard returned $2,500 of the merchandisepurchased on January 4 to Crossway and received credit. Themerchandise had a cost of $1,400 to Crossway.
4. On January 9 Mallard paid the amount due to Crossway.
--Record the necessary journal entries for MallardCompany. Omit explanation
