Question: Journalize the following sales transactions for Austin Mall Explanations are

Journalize the following sales transactions for Austin Mall. Explanations are not required.
Jan. 4 Sold $10,000 of antiques on account, credit terms are 1/15, n/30. Cost of goods is $5,000.
8 Received a $300 sales return on damaged goods from the customer. Cost of goods damaged is $150.
13 Austin Mall received payment from the customer on the amount due from Jan. 4, less the return and discount.
20 Sold $5,200 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is $2,600.
20 Austin Mall paid $120 on freight out.
25 Austin Mall negotiated a $500 allowance on the goods sold on Jan. 20.
29 Received payment from the customer on the amount due from Jan. 20, less the allowance and discount.



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  • CreatedJune 12, 2015
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