On June 10, Marin Company purchased $8,400 of merchandise from Cullumber Company, on account, terms 3/10, n/30. Marin pays the freight costs of $380 on June 11. Goods totaling $500 are returned to Cullumber for credit on June 12. On June 19, Marin Company pays Cullumber Company in full, less the purchase discount. Both companies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Cullumber Company
+5
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On June 10, Marin Company purchased $8,400 of merchandise from Cullumber Company, on account, terms 3/10, n/30. Marin pays the freight ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » On June 10, Marin Company purchased $8,400 of merchandise from Cullumber Company, on account, terms 3/10, n/30. Marin pays the freight costs of $380 on June 11. Goods totaling $500 are returned to Cullumber for credit on June 12.