Required:
Prepare the journal entries to record the sale on November ignore cost of goods and collection on November assuming that the gross method of accounting for cash discounts is used.
Prepare the journal entries to record the sale on November ignore cost of goods and collection on December assuming that the gross method of accounting for cash discounts is used.
Complete this question by entering your answers in the tabs below.
Prepare the journal entries to record the sale on November ignore cost of goods and collection on November assuming that the gross method of accounting for cash discounts is used.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
Record the sale of units with a list price of $ a trade discount if applicable with terms of under the gross method.
Note: Enter debits before credits.
General Journal
Debit
Credit
