June 4 Deere Company purchased $3,500 worth of merchandise, terms n/30 from Gilbert Company. The cost of the merchandise was $2,500.
13 Deere returned $600 worth of goods to Gilbert for full credit. The goods had a cost of $400 to Johnson.
13 Deere paid the account in full. Assume use of the periodic inventory system for both companies.
Prepare the journal entries to record these transactions in Deere's books.
+2
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “June 4 Deere Company purchased $3,500 worth of merchandise, terms n/30 from Gilbert Company. The cost of the merchandise was $2,500. 13 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Home » Business » June 4 Deere Company purchased $3,500 worth of merchandise, terms n/30 from Gilbert Company. The cost of the merchandise was $2,500. 13 Deere returned $600 worth of goods to Gilbert for full credit. The goods had a cost of $400 to Johnson.