Prepare Journal Entires for the Transactions
Journalize entires related to accounts receivable.
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March 1 |
Sold merchandise on account to Dodson Company for $5,000, terms 2/10, n/30. |
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3 |
Dodson Company returned merchandise worth $500 to Molina. |
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9 |
Molina collected the amount due from Dodson Company from the March 1 sale. |
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15 |
Molina sold merchandise for $400 in its retail outlet. The customer used his Molina credit card. |
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31 |
Molina added 1.5% monthly interest to the customer’s credit card balance. |
