H&M Co, on July 1, 2017 sells merchandise on account to Pole Company for $10

Accounting Jan 19, 2021

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

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote