Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual Inventory system and the gross method.
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April Sold merchandise for $ with credit terms ; invoice dated April The cost of the merchandise is $
April The customer in the April sale returned $ of merchandise for full credit. The merchandise, which had cost $ is returned to inventory.
April Sold merchandise for $ with credit terms of ; invoice dated April Cost of the merchandise is $
April Received payment for the amount due from the April sale less the return on April
Journal entry worksheet
Sold merchandise for $ with credit terms
Note: Enter ceolts before crecls:
tableDateGeneral Journal,Debit,CreditApril
