Question: Journalize the following sales transactions for Double Z Archery using

Journalize the following sales transactions for Double Z Archery using the periodic inventory system. Explanations are not required.
Aug. 1 Sold $7,800 of equipment on account, credit terms are 2/10, n/30.
3 Received a $300 sales return on damaged goods from the customer.
8 Double Z received payment from the customer on the amount due from Aug. 1, less the return and discount.
15 Sold $3,200 of equipment on account, credit terms are 2/10, n/45, FOB destination.
15 Double Z paid $140 on freight out.
20 Double Z negotiated a $700 allowance on the goods sold on Aug. 15.
24 Received payment from the customer on the amount due from Aug. 15, less the allowance and discount.



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  • CreatedJune 12, 2015
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