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Journalize Angelleti Co entries for sale

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Question - Transactions for Buyer and Seller - Grayson Co. sold merchandise to Angelleti Co. on account, $147,800, terms FOB shipping point, 2/10, n/30. The cost of the merchandise sold is $88,680. Grayson Co. paid freight of $2,200. Assume that all discounts are taken.

Journalize Grayson Co.'s entries for the (a) sale, (b) purchase, and (c) payment of amount due.

Journalize Angelleti Co.'s entries for (a) sale, and (b) payment of amount due.

Reference no: EM133129993

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