Using the information in E6-11, prepare journal entries to record the transactions, assuming Evergreen Company uses a perpetual inventory system.
Information From E6-11
July 12 Sold merchandise to Wally Butler, who paid the $1,000 purchase with cash.
The goods cost Evergreen Company $600.
15 Sold merchandise to Claudio's Chair Company at a selling price of $5,000 on terms 3/10, n/30. The goods cost Evergreen Company $3,500.
20 Sold merchandise to Otto's Ottomans at a selling price of $3,000 on terms 3/10, n/30. The goods cost Evergreen Company $1,900.
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.