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Record the transactions on the books of De La Hoya Company

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Reference no: EM132712796

On Semptember 5, De La Hoya Company buys merchandise on account from Junot Diaz Company. The selling price of the goods is P1,500, and the cost to Diaz Company was P800.

On September 8, De La Hoya returns defective goods with a selling price of P200 and a scrap value of P80.

Instruction:

Problem 1: Record the transactions on the books of De La Hoya Company.

Problem 2: Record the transactions on the books of Junot Diaz Company.

Reference no: EM132712796

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