EXERCISE 18-2 (15-20 minutes)
(a) 1. 6/3 Accounts Receivable—Kim Rhode............. 5,000 Sales.......................................................... 5,000
6/5 Sales Returns and Allowances................. 400 Accounts Receivable—Kim Rhode.. 400
6/7 Transportation-Out....................................... 24 Cash........................................................ 24
6/12 Cash................................................................ 4,508 Sales Discounts (2% X $4,600).................. 92 Accounts Receivable—Kim Rhode.. 4,600
2. 6/3 Accounts Receivable—Kim Rhode.......... 4,900
(a) 1. 6/3 Accounts Receivable—Kim Rhode............. 5,000 Sales.......................................................... 5,000
6/5 Sales Returns and Allowances................. 400 Accounts Receivable—Kim Rhode.. 400
6/7 Transportation-Out....................................... 24 Cash........................................................ 24
6/12 Cash................................................................ 4,508 Sales Discounts (2% X $4,600).................. 92 Accounts Receivable—Kim Rhode.. 4,600
2. 6/3 Accounts Receivable—Kim Rhode.......... 4,900
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