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