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Determine about the Sales returns and allowances
Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.
Return results when a buyer returns part, or all of the order
Recording Sales Returns and Allowances
A Credit Memorandum is original document
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Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
find cost of goods sold
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A $9,000 loan to be repaid in full at the end of five years. Interest on the loan is payable quarterly. The interest rate is 8% compounded quarterly. What is the present value
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Exercise 5-2 - Harwick company. 1) On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2)On April 6, paid freight costs of $
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