The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and...

 

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The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. October 1 Sold merchandise for $3,300, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,800. October 6 The customer in the October 1 sale returned $330 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory. October 9 Sold merchandise for $1,600 cash. Cost of the merchandise is $1,170. October 30 Received payment for the amount due from the October 1 sale less the return on October 6. Use the above sales transactions of EcoMart Merchandising to prepare journal entries. The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. October 1 Sold merchandise for $3,300, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,800. October 6 The customer in the October 1 sale returned $330 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory. October 9 Sold merchandise for $1,600 cash. Cost of the merchandise is $1,170. October 30 Received payment for the amount due from the October 1 sale less the return on October 6. Use the above sales transactions of EcoMart Merchandising to prepare journal entries.