Business, 03.07.2019 03:20 jhanley5862

Alpha company used the periodic inventory system for purchase & sales of merchandise. discount terms for both purchase & sales are, fob destination, 2/10, n30 and the gross method is used. > alpha company sold on account $2,500 of merchandise to bravo company on may 2, 2016. selling price was $4,000. freight charges related to this transaction of $150 were paid by alpha company. > bravo company returned, to alpha company, $250 of this merchandise on may 3, 2016. merchandise was sold for $400 use this information to prepare alpha company's general journal entries (without explanation) for may 2 & may 3 entries.

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Alpha company used the periodic inventory system for purchase & sales of merchandise. discount...

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