Material Detail

Sales and Purchase Transactions

This problem-based learning activity helps students practice recording a business-to-business sales/purchase transactions that included credit terms from both perspectives. The problem applies the gross method for recording sales and purchases for a perpetual inventory scenario. Faculty who foster the traditional approach to teaching principles of financial accounting may find this activity useful....

Keywords:: credit terms, purchases on account with credit terms, credit sales

Disciplines:

Business / Accounting / Introductory

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More about this material

Material Type:: Assignment
Date Added to MERLOT:: August 18, 2010
Date Modified in MERLOT:: March 22, 2011
Author:: Susan Moncada, Indiana State University
Submitter:: Susan Moncada
Primary Audience:: High School, College Lower Division
Technical Format:: Website

Mobile Compatibility:: Not specified at this time
Technical Requirements:: Word 2007 to open downloadable files.
Language:: English
Cost Involved:: No
Source Code Available:: Yes
Creative Commons:: This work is licensed under a Attribution-NonCommercial 3.0 United States