Sunday, March 31, 2013
Shehgarlynn Mini Mart
The following are the daily business transaction of Shehgarlynn Mini Mart:
January 1, 2013 bought $6,500 of merchandise on account, terms 3/10, 2/15, n/30, from Yosores Company,
January 3, 2013 Sales on credit to Gary Co. amounted to $3,750, terms 2/10, n/30.
January 10, 2013 Gary Co. return of $570.00 on goods sold on Jan. 3, 2013
January 14, 2013 Received a cash from Gary Co. in payment of the goods sold on Jan. 3.
January 15, 2013 Sent a check # 025, amounting to Yosores Co. in payment of purchase made on January 1,
January 18, 2013 Purchased merchandise on credit to Shehlynn Co. for $8,500, terms 3/10, 2/15, n/30.
January 25, 2013 Some items purchased from Shehlynn Co. are returned amounted $950 in goods purchased on January 18.
January 29, 2013 Paid for freight charges on purchase of Jan. 1. amounting $250.
January 31, 2013 Paid to Shehlynn Co., the total amount in payment of purchase made on January 18.
Prepare the Net Income of Shehgarlynn Mini Mart
Labels:
Shehgarlynn,
Test,
Trading
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