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Amanda [17]
3 years ago
9

The following information pertains to Windsor Solar Panels, Inc.

Social Studies
1 answer:
Sidana [21]3 years ago
4 0

Answer:

Windsor Solar Panels, Inc.

Date        Account Titles and Explanation             Debit       Credit

July 1       Accounts Receivable (Wildhorse Co.) $128,000

              Sales Revenue                                                  $128,000

To record the sale of solar panels, terms 3/15, n/30.

July 12    Accounts Receivable (Novak Corp.)     $82,000

              Sales Revenue                                                   $82,000

To record the sale of solar panels, terms  4/10, n/60.

July 18   Cash Account                                       $78,720

             Cash Discount                                        $3,280

             Accounts Receivable (Novak Corp.)                 $82,000

To record the receipt of payment from Novak Corp.

July 20 Sales Allowances                                   $2,100

            Accounts Receivable (Wildhorse Co.)                $2,100

To record the credit allowance granted to Wildhorse Company.

July 29 Cash Account                                     $125,900

            Accounts Receivable (Wildhorse Co.)                $125,900

To record the receipt of payment from Wildhorse Company

July 31  "No Entry"

Explanation:

Windsor Solar Panels, Inc. will record the above journal entries to initially record the business transactions that take place within the period.  These journal entries determine the accounts to be debited and the ones to be credited in the general journal.

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