Solution-Prepare the journal entry to record receipt of the

Prepare the journal entry to record receipt of the payment

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Reference no: EM132761975

Question - On June 16 202x Romela Company sold 100 air conditioning units. The sale price for each unit is P45,000.

All of sales are subject to terms 210, n/30. The entity used the gross method of accounting for accounts receivable.

Required -

1. Prepare journal entry to record the sale.

2. Prepare journal entry to read receipt of the payment assuming the correct amount was received on June 25, 202x.

3. Prepare the journal entry to record receipt of the payment assuming the correct amount was received on July 10 202x.

Reference no: EM132761975

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Prepare the journal entry to record receipt of the payment : On June 16 202x Romela Company sold 100 air conditioning units. Prepare the journal entry to record receipt of the payment

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Prepare the journal entry to record receipt of the payment

Reference no: EM132761975

Reference no: EM132761975

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