Question: Journalize the transactions below that should be recorded in the general journal. If a transaction should not be recorded in the general journal, identify the
Mar. 2 Sold merchandise inventory on account to B. Kielman, issuing invoice no. 501 for $300 (cost, $230).
6 Issued credit memo to B. Kielman for $300 for merchandise returned to business by customer. Also accounted for receipt of the merchandise inventory at cost.
21 Purchased merchandise inventory on credit terms of 2/10, n/30 from Poloskey Co., $500.
28 Returned damaged merchandise inventory to Poloskey Co., issuing a debit memo for $500.
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