Journalize the following transactions for the seller, hall company, using the gross method to account for sales discounts. assume a perpetual inventory system. make sure to enter the day for each separate transaction. august 6 sold goods costing $6,000 to johnson company on account, $10,000, terms 4/10, n/30. the goods are sold fob shipping point, freight prepaid by seller, $50. august 12 johnson company returned damaged merchandise previously purchased on account, $1,200. august 16 received the amount due from johnson company. note: the entry to record the shipping payment to the delivery company is not required in this problem.

Owns a machine that can produce two specialized products. production time for product tlx is two units per hour and for product mtv is four units per hour. the machine’s capacity is 2,100 hours per year. both products are sold to a single customer who has agreed to buy all of the company’s output up to a maximum of 3,570 units of product tlx and 1,610 units of product mtv. selling prices and variable costs per unit to produce the products follow. product tlx product mtv selling price per unit $ 11.50 $ 6.90 variable costs per unit 3.45 4.14 determine the company's most profitable sales mix and the contribution margin that results from that sales mix.