July 30.Received the balance due from Art Co. for the invoice dated July 19, net of discount.

Here is Juy 19th's record: Sold merchandise to Art Co. for $1,200 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19.

Respuesta :

Answer:

Date        General Journal           Debit      Credit

July 30  Cash                              $1,176

                (1200*98%)

                Sales discount              $24

                       Account receivable-Art Co   $1200