What are the journal entries for the following? A- 1,850 shirts are sold at $45...
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Accounting
What are the journal entries for the following?
A- 1,850 shirts are sold at $45 each during 2017. All sales were made on account. In order to induce prompt payment, sales discount are offered with the term 2/10, E.O.M. 60% of sales are collected within 10 days. The company use the gross amount method to account for discount. 25% of sales are collected after 10 days. The rest remains uncollected.
B- The sales returns are 100% refunded, and amounts are 40 pieces
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