The following transactions occurred during November 2016 for Specialty T-Shirts, Inc.: Nov 3 Purchased S3,900 of goods
Question:
The following transactions occurred during November 2016 for Specialty T-Shirts, Inc.:
Nov 3 Purchased S3,900 of goods on account. Terms, 3/10. n/30, FOB shipping point.
6 Returned $300 of defective merchandise purchased on November 3.
8 Paid freight charges of $100 for delivery of goods purchased on November 3.
11 Sold $2.300 of inventory to a customer on account. Terms, 4/15.
n/45, FOB shipping point The cost of the goods was $900.
12 Paid amount owed on the November 3 purchase.
18 Granted a $150 sales allowance on the November 11 sale because the goods were damaged.
25 Received payment in full from customer for the November 11 sale
Requirement
Journalize the November transactions for Specialty T-Shirts, Inc. Omit explanations?
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