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3 years ago

May 24 Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000.

Business

1 answer:

zubka84 [21]3 years ago

7 0

Answer:

Date General Ledger Debit Credit

May 24 Accounts Receivable-Old Town Café $18,450

Sales $18,450

Cost of goods sold $11,000

Inventory $11,000

Sept. 30 Cash $6,000

Allowance for Doubtful Accounts $12,450

Accounts Receivable-Old Town Cafe $18,450

Dec. 7 Accounts Receivable-Old Town Cafe $12,450

Allowance for Doubtful Accounts $12,450

Cash $12,450

Accounts Receivable-Old Town Cafe $12,450

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