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    Argosy University/ Phoniex University/
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Category > Accounting Posted 12 Aug 2017 My Price 13.00

Sallis Company

The following selected transactions were completed during November between Sallis Company and Byce Company:
Nov. 2. Sallis Company sold merchandise on account to Byce Company, $12,500, terms FOB shipping point, 2/10, n/30. Sallis Company paid transportation costs of $425, which were added to the invoice. The cost of the merchandise sold was $7,500.
8. Sallis Company sold merchandise on account to Byce Company, $21,600, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $13,000.
8. Sallis Company paid transportation costs of $879 for delivery of merchandise sold to Byce Company on November 8.
12. Byce Company returned $5,000 of merchandise purchased on account on November 8 from Sallis Company. The cost of the merchandise returned was $2,900.
12. Byce Company paid Sallis Company for purchase of November 2, less discount.
23. Byce Company paid Sallis Company for purchase of November 8, less discount and less return of November 12.
Nov. 24. Sallis Company sold merchandise on account to Byce Company, $15,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $9,000.
26. Byce Company paid transportation charges of $400 on November 24 purchase from Sallis Company.
30. Byce Company paid Sallis Company on account for purchase of November 24.

Instructions
Journalize the November transactions for
(1) Sallis Company
(2) Byce Company.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 09:08 PM My Price 13.00

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