Transactions for Buyer and Seller Grayson Co. sold merchandise to Chang Co. on account, $9,250, terms 2/15, n/30. The cost of merchandise sold is $5,550. Assume all discounts are taken. Journalize...




Transactions for Buyer and Seller


Grayson Co. sold merchandise to Chang Co. on account, $9,250, terms 2/15, n/30. The cost of merchandise sold is $5,550. Assume all discounts are taken.









Journalize Grayson Co.'s entries for (a) the sale on account and (b) the collection of the amount due.










































(a)Accounts Receivable-Chang Co.fill in the blank 7561bb04b07ffb2_2
Salesfill in the blank 7561bb04b07ffb2_4
Cost of Merchandise Soldfill in the blank 7561bb04b07ffb2_6
Merchandise Inventoryfill in the blank 7561bb04b07ffb2_8
(b)Cashfill in the blank 7561bb04b07ffb2_10
Accounts Receivable-Chang Co.fill in the blank 7561bb04b07ffb2_12









Journalize Chang Co.'s entries for (a) the purchase of merchandise on account and (b) the payment of the amount due.






























(a)Merchandise Inventoryfill in the blank 7379b107704bfa1_2
Accounts Payable-Grayson Co.fill in the blank 7379b107704bfa1_4
(b)Accounts Payable-Grayson Co.fill in the blank 7379b107704bfa1_6
Cashfill in the blank 7379b107704bfa1_8







Jun 08, 2022
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