Fronkes Franks for $3610 on invoice 1001 terms 1/10 n/30 The cost of merchandise sold was $2220. Payment was received in full from Fronkes Franks, Less discounts. On April 10. Record the transactions for Moloney Meat Distributors on April 10. The Company uses the perpetual inventory system.
Journal Entry worksheet
1- On April 1 Moloney Meat Distributors sold merchandise on account to Fronkes Franks for $3,610 on invoice 1001 terms 1/10. n/30.
2-The cost of merchandise sold was $2,220
3- Received payment from Fronkes Franks for invoice 1001, Dated April 1
Date General Journal Debit Credit
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