Question: Please help do a journal entry for this accounting problem! The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise
Please help do a journal entry for this accounting problem!
The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid the $1, 500 purchase with cash. The goods cost Evergreen Company $850. 15 Sold merchandise to Claudio's Chair Company at a selling price of $5, 500 on terms 2/10, n/30. The goods cost Evergreen Company $4,000. 20 Sold merchandise to Otto's Ottomans at a selling price of $3, 500 on terms 2/10, n/30. The goods cost Evergreen Company $2, 400. 23 Collected payment from Claudio's Chair Company from the July 15 sale. Aug. 25 Collected payment from Otto's Ottomans from the July 20 sale. Required: Prepare journal entries to record the transactions, assuming Evergreen Company uses a perpetual inventory system
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