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201X Jul. 8 Sold merchandise on...

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Accounting

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201X Jul. 8 Sold merchandise on account, $630, to Ring Co.; terms 3/10, n/30. Cost of merchandise was $390. 12 Purchased office equipment on account from MEC Co., $1,600. 13 Made refunds to cash customers, $200, for defective merchandise. The cost of defective merchandise was $25. July 8: Sold merchandise on account, $630, to Ring Co.; terms 3/10,n/30. Cost of merchandise was $390. Begin by journalizing the sale. (Do not record the expense related to the sale. We will do that in the following step.) Now journalize the cost of the merchandise sold. July 12: Purchased office equipment on account from MEC Co., $1,600. July 12: Purchased office equipment on account from MEC Co., $1,600. July 13: Made refunds to cash customers, $200, for defective merchandise. The cost of defective merchandise was $25, Start by journalizi refund. We will do that in the following step.) Now journalize the cost of defective merchandise. Now journalize the cost of defective merchandise

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