San Diego State University Operations And Supply Chain Management Assignment Help - Journal
Question - Pace Distributing Company completed the following merchandising transactions in the month of April.
At the beginning of April, the ledger of Pace showed Cash of $9,000 and Ownerâ€™s Capital of $9,000.
Apr. 2 Purchased merchandise on account from Monaghan Supply Co. $6,900, terms 1/10, n/30.
4 Sold merchandise on account $6,500, FOB destination, terms 1/10, n/30. The cost of the
merchandise sold was $3,900.
5 Paid $240 freight on April 4 sale.
6 Received credit from Monaghan Supply Co. for merchandise returned $500.
11 Paid Monaghan Supply Co. in full, less discount.
13 Received collections in full,
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