Journalize the following sales transactions for SandmanSandman Camera Store using the periodic inventory system. Explanations...
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Accounting
Journalize the following sales transactions for
SandmanSandman
Camera Store using the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.)
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Dec.Dec.
3:
SandmanSandman
sold
$44,800
of camera equipment on account, credit terms are
33/15,
n/EOM.
Date
Accounts
Debit
Credit
Dec. 3
Accounts Receivable
44800
Sales Revenue
44800
Dec.Dec.
5:
SandmanSandman
received a
$ 900$900
sales return on damaged goods from the customer.
Date
Accounts
Debit
Credit
Dec. 5
Accounts Payable
900
Merchandise Inventory
Dec.Dec.
17:
SandmanSandman
receives payment from the customer on the amount due, less the return and discount.
Date
Accounts
Debit
Credit
Dec. 17
Accounts Receivable
43900
Merchandise Inventory
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