Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 8 percent
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DATE TRANSACTIONS
2019
April 2 Sold merchandise for cash, $2,500 plus sales tax. The cost of merchandise sold was $1,500.
3 The customer purchasing merchandise for cash on April 2 returned $250 of the merchandise; provided a cash refund to the customer. The cost of returned merchandise was $150.
4 Sold merchandise on credit to Jordan Clark; issued Sales Slip 908 for $1,050 plus tax, terms n/30. The cost of the merchandise sold was $630.
6 Accepted return of merchandise from Jordan Clark; issued Credit Memorandum 302 for $150 plus tax. The original sale was made on Sales Slip 908 of April 4. The cost of returned merchandise was $90.
30 Received payment on account from Jordan Clark in payment of her purchase of April 4, less the return on April 6.
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
4th edition
Authors: David Haddock, John Price, Michael Farina
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