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Suppose Zena.com sells 1,800 books on account for $21 each. The cost of the books is $24,400, and credit terms are 1/20, n/45 on January 10, 2019 to Books-R-Us. There were 80 books, with a cost of $1,210, damaged in shipment. Later Zena.com received the damaged goods returned from Boooks-R-Us as a sales return on January 17, 2019.  On January 26, 2019, Books-R-Us paid the balance due to Zena.com.

A) Journalize Books-R-Us transactions for January 2019.

Journal
DateDescriptionDebitCredit
January 10
January 10
January 17
January 17
January 26
January 26
January 26

B) Journalize Zena.com transactions for January 2019.

Journal
DateDescriptionDebitCredit
January 10
January 10
January 10
January 10
January 17
January 17
January 17
January 17
January 26
January 26
January 26

 


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