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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 1 Day Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used. > Alpha Company sold on account $3,000 of merchandise to Bravo Company on May 2, 2016. Selling price was $4,500 > Bravo Company returned, to Alpha Company, $300 of this merchandise on May 3, 2016. Merchandise was sold for $450 > Freight charges related to this transaction of $150 were paid by Alpha Company. Use this information to prepare Alpha Company's Journal entry (without explanation) for the payment for merchandise on May 15. If no entry is required then write "No Entry Required."
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