Business, 16.07.2019 21:30 karleygirl2870

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. apr. 1 sold merchandise for $3,000, with credit terms n/30; invoice dated april 1. the cost of the merchandise is $1,800. apr. 4 the customer in the april 1 sale returned $300 of merchandise for full credit. the merchandise, which had cost $180, is returned to inventory. apr. 8 sold merchandise for $1,000, with credit terms of 1/10, n/30; invoice dated april 8. cost of the merchandise is $700. apr. 11 received payment for the amount due from the april 1 sale less the return on april 4.

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Prepare journal entries to record each of the following sales transactions of a merchandising compan...

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