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Vitek1552 [10]
3 years ago
8

Recording estimates of future discounts LO P6 ProBuilder has the following June 30 fiscal-year-end unadjusted balances:

Business
1 answer:
Wittaler [7]3 years ago
5 0

Answer:

A. Date       Account Title and Explanation       Debit    Credit

   June 30   Sales discounts                                 $72

                    ($2,400 * 3%)

                          Allowance for sales discounts                 $72

                      (To record the expected sales discounts)                    

B. Date      Account Title and Explanation       Debit    Credit

    June 30  Sales Discounts                                $62

                     ($72 - $10)

                             Allowance for sales discounts               $62

                      (To record the expected sales discounts)

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3 years ago
West Corp. issued 14-year bonds 2 years ago at a coupon rate of 9.8 percent. The bonds make semiannual payments. If these bonds
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This is a semiannual paying coupon. And it means West Corp pays interest twice a year.

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We are using a Financial calculator for this.

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