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Record the on july cullumber co sold merchandise on account

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Reference no: EM132707301

Problem 1: Record the following transactions on the books of Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a) On July 1, Cullumber Co. sold merchandise on account to Stacey Inc. for $21,300, terms 2/10, n/30.

(b) On July 8, Stacey Inc. returned merchandise worth $2,300 to Cullumber Co.

(c) On July 11, Stacey Inc. paid for the merchandise.

Reference no: EM132707301

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