On december 8 frazier co was granted an allowance of 20000, Accounting Basics

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On december 8 frazier co was granted an allowance of 20000

On December 3, R. Humphrey Company sold $570,000 of merchandise to Frazier Co., terms 1/10, n/30, FOB destination. R. Humphrey paid $400 for freight charges. The cost of the merchandise sold was $350,000.2. On December 8, Frazier Co. was granted an allowance of $20,000 for merchandise purchased on December 3.3. On December 13, R. Humphrey Company received the balance due from Frazier Co.

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Accounting Basics: On december 8 frazier co was granted an allowance of 20000

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