Solved: Solar company sold merchandise on account to kit company, Financial Accounting

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Solar company sold merchandise on account to kit company

Solar Company sold merchandise on account to Kit Company for $9,000 on June 3, 2012, with terms 2/10, n/30. On June 7, 2012, Solar Company received $850 of returned merchandise from Kit Company and issued a credit memorandum for the appropriate amount. Solar Company received payment for the balance of the bill on June 21, 2012. Record the necessary journal entries for Solar Company on June 3, June 7, and June 21.

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Financial Accounting: Solar company sold merchandise on account to kit company

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