On August 1, White Appliances purchased 75 refrigerators for $45,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, White purchased 100 dishwashers for $20,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the dishwashers were 2/10, n/30. On August 3rd, White determined that 5 of the refrigerators were defective, so they were returned to the seller. White paid for the dishwashers on August 9th. On August 10th, White purchased 90 microwave ovens for $9,000 on credit with terms 1/10, n/30. The seller paid the freight. White paid for the microwave ovens on August 21st.
-Refer to the information presented for White Appliances. On August 12th, White sold 10 dishwashers to customers for $550 each. White paid $200 each for these dishwashers when it purchased them from the supplier on August 1st. On August 15th, customers returned 2 of these dishwashers for a cash refund.

Record the journal entries for this sale and sales return.

Question

On August 1, White Appliances purchased 75 refrigerators for $45,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, White purchased 100 dishwashers for $20,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the dishwashers were 2/10, n/30. On August 3rd, White determined that 5 of the refrigerators were defective, so they were returned to the seller. White paid for the dishwashers on August 9th. On August 10th, White purchased 90 microwave ovens for $9,000 on credit with terms 1/10, n/30. The seller paid the freight. White paid for the microwave ovens on August 21st.
-Refer to the information presented for White Appliances. On August 12th, White sold 10 dishwashers to customers for $550 each. White paid $200 each for these dishwashers when it purchased them from the supplier on August 1st. On August 15th, customers returned 2 of these dishwashers for a cash refund.
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Record the journal entries for this sale and sales return.

Quizplus · Accepted Answer

The Answer of On August 1, White Appliances purchased 75 refrigerators for $45,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, White purchased 100 dishwashers for $20,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the dishwashers were 2/10, n/30. On August 3rd, White determined that 5 of the refrigerators were defective, so they were returned to the seller. White paid for the dishwashers on August 9th. On August 10th, White purchased 90 microwave ovens for $9,000 on credit with terms 1/10, n/30. The seller paid the freight. White paid for the microwave ovens on August 21st.
-Refer to the information presented for White Appliances. On August 12th, White sold 10 dishwashers to customers for $550 each. White paid $200 each for these dishwashers when it purchased them from the supplier on August 1st. On August 15th, customers returned 2 of these dishwashers for a cash refund.
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Record the journal entries for this sale and sales return.

On August 1, White Appliances Purchased 75 Refrigerators for $45,000