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zimovet
22 days ago
5

A seller uses a perpetual inventory system, and on April 4, it sells $5,000 in merchandise to a customer on credit terms of 3/10

, n/30. On April 13, the seller receives payment from the customer. Complete the seller’s April 13 journal entry by selecting the account names and dollar amounts from the drop-down menus. The order of the account names in the journal entry must match the illustration in this module.
Business
1 answer:
Free_Kalibri [3.1K]22 days ago
7 0

Response:

Details:

The journal entry for the payment received on April 13 from a customer is recorded as:

Date Account title and explanation Ref Debit Credit

Apr-13 Cash ($5000 - $150)                  $4,850  

         Sales discount ($5000* 3%)      $150  

                    Accounts receivable

                                                                            $5000

(To document the payment received from the customer after discount    

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