Pirt Prepare journal entries to record each of the following sales transactions of a merchandising company. The company

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Pirt Prepare Journal Entries To Record Each Of The Following Sales Transactions Of A Merchandising Company The Company 1 (17.42 KiB) Viewed 9 times

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Pirt Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. April 1 Sold merchandise for $3,000, with credit terms n/30; invoice dated April 1. The cost of the merchandise is $1,800. April & The customer in the April 1 sale returned $300 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory, April a Sold merchandise for $1,000, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is $700. April 11 Received payment for the amount due from the April 1 sale less the return on April 4.
Sold merchandise for $3,000, with credit terms n/30. Note: Enter debits before credits. Date Apr 01 General Journal Debit Credit
The cost of the merchandise is $1,800. Note: Enter debits before credits. Date Apr 01 General Journal Debit Credit
The customer in the April 1 sale returned $300 of merchandise for full credit. Note: Enter debits before credits. Date Apr 04 General Journal Debit Credit
The merchandise, which had cost $180, is returned to inventory. Note: Enter debits before credits. Date Apr 04 Record entry General Journal Clear entry Debit Credit View general jo
Sold merchandise for $1,000, with credit terms of 1/10, n/30. Note: Enter debits before credits. Date Apr 08 Record entry General Journal Clear entry Debit Credit View general jour
Cost of the merchandise is $700. Note: Enter debits before credits. Date Apr 08 Record entry General Journal Clear entry Debit Credit View general journa
Received payment for the amount due from the April 1 sale less the return on April 4. Note: Enter debits before credits. Date Apr 11 General Journal Debit Credit