Business, 19.03.2020 17:31 katiems5514
Boston Dollar Store uses the gross method to record purchase discounts and uses a perpetual inventory system. Boston engaged in the following transactions during April: 4/12Purchased $15,000 in merchandise subject to terms of 2/10, n/30. The goods were shipped f. o.b. shipping point4/13Received a billing from Orange Freight Lines for $300 for the 4/12 purchase.4/15Returned $1,000 of merchandise from the 4/12 purchase.4/20Paid balances due from 4/12 purchase.
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