Prepare journal entries for the following transactions.
The discount terms are net
Bad Debt Expense is of credit sales
Unit price is $
a Sold merchandise for cash of $
b Sold merchandise with an invoice price of $ to Reed.
c Sold merchandise with an invoice price of $ to Watson.
d Paid invoice for transaction b within the discount period
e Sold merchandise for an invoice price of $
f One unit from transaction b was returned.
g Collected cash of $ within the discount period
h Two units were returned from transaction c
i Transaction C was paid in full
j Wrote off the prior years account balance of $
k Estimated rate on bad debts was of credit sales, net of returns Information from the records and bank statement and of Matrix, Inc. as of July Year is set forth below pts
Determine the ending cash balance as of July
