White Company allows customers to make purchases on credit.The terms of all credit sales are 2/10,n/30,and all sales are recorded at the gross price.Other customers can use a bank credit card where the bank deducts a 4% service charge for credit card sales and credits the bank account of White immediately when credit card receipts are deposited.White uses the perpetual inventory method.Prepare journal entries to record the following selected transactions and events.
Definitions:
Advantage
The performance characteristic of a product that describes how it can be used or will help the buyer.
Benefit
A favorable result the buyer receives from the product because of a particular advantage that has the ability to satisfy a buyer’s need.
Trial Close
A sales technique where the seller proposes a closing question or statement to gauge the buyer's readiness to complete the purchase.
Selling Point
A feature or benefit of a product that makes it attractive to potential buyers.
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