Damon Associates reported the following transactions during September 2017:

Sept. 8 Sold $3,000 of merchandise to Bruce Company for cash. The cost of the merchandise was $1,250

10 Owner invested $3,400 into the business.

15 Collected $580 from Lucille Adams on account.

16 Issued a credit memo for $650 to Susan Wilson for merchandise she purchased on credit several days ago. The cost of the returned

merchandise was $250.

Required: Record the above transactions below in either the cash receipts journal or the general journal. Note: Individual entries will only belong in one of these two journals.

Answer rating: 100% (QA)

Sure heres how you would record these transactions Cash Re... View the full answer