Question: Journalize the following transactions for Alpine Audio Inc that occurred

Journalize the following transactions for Alpine Audio, Inc., that occurred during the month of April. Alpine Audio’s cost of inventory is 65% of the sales price.

Apr 3 Sold $2,200 of merchandise on account, terms 5/15, n/45, FOB shipping point. Alpine Audio, Inc., prepaid $65 of shipping costs and added the amount to the customer’s invoice.
7 Issued a credit memo to the customer acknowledging the return of $225 (sales price) of unwanted goods.
16 Received payment in full from the customer for the April 3 invoice.


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  • CreatedApril 29, 2014
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