Presented below are selected transactions of Molina Company (A+ Guaranteed)

Presented below are selected transactions of Molina Company. Molina sells in large quantities to other companies and also sells its product in a small retail outlet.

March 1 Sold merchandise on account to Dodson Company for $9,800, terms 4/10, n/30.
3 Dodson Company returned merchandise worth $700 to Molina.
9 Molina collected the amount due from Dodson Company from the March 1 sale.
15 Molina sold merchandise for $300 in its retail outlet. The customer used his Molina credit card.
31 Molina added 2% monthly interest to the customer’s credit card balance.

 

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