On may 15 brandle sold 52000 of inventory items on credit, Accounting Basics

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On may 15 brandle sold 52000 of inventory items on credit

Problem

On May 15, Brandle sold $52,000 of inventory items on credit with the terms 2/15, net 30. Payment on $30,000 of the sales was received on May 28 and the remaining payment was received on June 12. Assuming Brandle uses the gross method of accounting for sales discounts, what is the journal entry made on May 28

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Accounting Basics: On may 15 brandle sold 52000 of inventory items on credit

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Accounting Basics: On may 15 brandle sold 52000 of inventory items on credit

Reference No:- TGS02708499

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