E5-15A. (Learning Objectives 2, 3: Apply GAAP for sales, sales discount, and sales returns; account for accounts receivable) Denver Interiors reported the following transactions in July Jul 2 Sold merchandise on account to Kara Elsworth, $450, terms 2/10, n30 10 11 Collected payment from Kara Elsworth for the Jul 2 sale 15 Bradley returned $350 of the merchandise purchased on Jul 10 19 Collected payment from Sedalia Bradley for the balance of the Jul 10 sale Sold merchandise on account to Sedalia Bradley, $2,300, terms 10, n30 Requirements 1. Record the foregoing transactions in the journal of Denver Interiors. 2. Prepare a computation of net sales for the month of July