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Help ASAP please Banana Co. Has an arrangement...




Help ASAP please Banana Co. Has an arrangement with its customers that it will provide a 5% volume discount on its customers if they purchase at least $1.5 million of its products during the calendar year. On April 1, 2012, Banana made sales to Fruit of $800,000 on account. Banana valued this inventory at $500,000. In the previous 10 yrs Fruit had purchased over $2million from Banana in the period July-December annually. How should April 1,2012, sale be recorded on Banana's books? Provide journal entry.


Paper#6085 | Written in 18-Jul-2015

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