On June 1, 2014, Concorde Company sold merchandise on credit at an invoice price of $1,000; terms 2/10, n/30.
Required:
Prepare the journal entries to record the following:
A. To record the sale.
B. Assumption A: To record collection on June 28, 2014.
C. Assumption B: To record collection on June 9, 2014.

Question

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The Answer of On June 1, 2014, Concorde Company sold merchandise on credit at an invoice price of $1,000; terms 2/10, n/30.
Required:
Prepare the journal entries to record the following:
A. To record the sale.
B. Assumption A: To record collection on June 28, 2014.
C. Assumption B: To record collection on June 9, 2014.

On June 1, 2014, Concorde Company Sold Merchandise on Credit