Our House is a manufacturer of furniture.On June 16,20X9,Our House received an order from Old Fashioned,Inc.,for 15 living room sets at $1,500 per set.The furniture was delivered by Our House to Old Fashioned,Inc.,on June 30,20X9,at which time Our House billed Old Fashioned under the terms 2/30,n/60.Old Fashioned,Inc.,paid Our House on July 25.Assume Our House uses a periodic inventory system.
Prepare the appropriate journal entries for Our House as of the following dates:
a.June 16
b.June 30
c.July 25

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The Answer of Our House is a manufacturer of furniture.On June 16,20X9,Our House received an order from Old Fashioned,Inc.,for 15 living room sets at $1,500 per set.The furniture was delivered by Our House to Old Fashioned,Inc.,on June 30,20X9,at which time Our House billed Old Fashioned under the terms 2/30,n/60.Old Fashioned,Inc.,paid Our House on July 25.Assume Our House uses a periodic inventory system.
Prepare the appropriate journal entries for Our House as of the following dates:
a.June 16
b.June 30
c.July 25

Our House Is a Manufacturer of Furniture