The following transactions took place at Fabulous Fashions Outlet during July 20X1. Fabulous Fashions Outlet uses a perpetual inventory system. Record the transactions in a general journal. Use 8 as the page number for the general journal.

Analyze: 

What percentage of the total amount due to Funky Fashions on July 1 is due to the freight charge?

Transcribed Image Text:

DATE 20X1 July 1 5 7 9 10 15 15 TRANSACTIONS Purchased dresses for $4,200 plus a freight charge of $200 from Funky Fashions, Invoice 101, dated July 1; the terms are 2/10, n/30. Sold two dresses on account to Alice Rivera, terms 1/10, n/30; issued Sales Slip 788 for $700. The cost of the dresses sold was $560. Received Credit Memorandum 210 for $650 from Funky Fashions for damaged dresses returned; the goods were purchased on Invoice 101 dated July 1. Accepted a return of a dress from Alice Rivera; the dress was originally sold on Sales Slip 788 of July 5; issued Credit Memorandum 89 for $300. The cost of the returned dress was $240. Issued Check 1255 to pay the amount due to Funky Fashions for Invoice 101, dated July 1, less the return of July 7 and less the cash discount. Received payment from Alice Rivera for the sale of July 5, less the return of July 9 and less the cash discount. Recorded sales on bank credit cards for the two-week period ended July 15, $13,900; the bank charges a 3 percent fee on all credit card sales. The cost of merchandise sold was $11,100.