汽车找不到导航软件:财务管理案例分析详解

The Sonoma Wine Company is a wholesaler of California wine that sells on credit terms of 2/10, n/30. Consider the following transactions:
June 9 Sales on credit to Sierra Wines, $20,000
June 11 Sales on credit to Marty’s Liquors, $10,000
June 18 Collected from Sierra Wines
June 26 Accepted the return of six cases from Marty’s, $1,000
July 10 Collected from Marty’s
July 12 Sierra returned some defective wine that it had acquired
on June 9 for $100.
Sonoma issued a cash refund immediately

Required:
Prepare journal entries for these transactions. Omit explanations. Assume that the full appropriate amounts were exchanged.

Answer:

Except for the entry of July 12, these entries are straightforward.
June 9 Accounts receivable 20,000
Sales 20,000
June 11 Accounts receivable 10,000
Sales 10,000
June 18 Cash 19,600
Cash discounts on sales 400
Accounts receivable 20,000
June 26 Sales returns and allowances 1,000
Accounts receivable 1,000
July 10 Cash 9,000
Accounts receivable 9,000
No cash discount was available
but the $1,000 return on
June 26 reduced the amount
due
July 12 Sales returns and allowances 100
Cash 98
Cash discounts on sales 2
The amount actually paid on
June 18 was $98, not $100.
Accordingly, this entry adjusts
the cash discount account.