Question: All one question: second question: Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual








Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual Inventory system and the gross method. Apr. 1 Sold merchandise for $3,000, with credit terms n/30; Invoice dated April 1. The cost of the merchandise is $1,800. Apr. 4 The customer in the April 1 sale returned $300 of merchandise for full credit. The merchandise, which had cost $180, is returned to inventory. Apr. 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30; invoice dated April 8. Cost of the merchandise is Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4. $700. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Sold merchandise for $3,000, with credit terms n/30. Note: Enter debts before credits Dato General Journal Debit Credit Apr 01 Journal entry worksheet The cost of the merchandise is $1,800. Note: Enter debits before credits. Date General Journal Debit Credit Apr 01 Journal entry worksheet
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