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H&M Co, on July 1, 2017 sells merchandise on account to Pole Company for $10
H&M Co, on July 1, 2017 sells merchandise on account to Pole Company for $10.000 terms 7/10.173 Prepare the journal entry to record this transaction on the books of H&M note Receivable 10,000 Sales Revenue 10,000 Accounts Receivable(A/R) 1000 Sales Revenue 1000 Accounts Receivable(A/R) 10,000 Sales Revenue 10,000 note Receivable 1000 Sales Revenue 1000
Expert Solution
Answer- journal entry for sale merchandise to polo company-
Accounts receivable a/c Debit $10000
Sales revenue a/c credit $10000
(Being sales to polo company for $ 10000)
Option C is correct answer because credit sales record $10000 entry for credit sales accounts receivable a/c Debit sales revenue a/c credit
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