Prepare journal entries to record each of the following sales transactions of Eco Mart Merchandising...
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Prepare journal entries to record each of the following sales transactions of Eco Mart Merchandising lo EcoMart uses a perpetual inventory system and the gross method. Oct. 1 Sold fair trade merchandise for $1,500, with credit terms 1/30, invoice dated October 1. The cost of the merchandise is $900. Oct. 6 The customer in the October 1 sale returned $150 of fair trade merchandise for full credit. The merchandise, which had cost $90, is returned to inventory. 9 Oct. Sold recycled leather merchandise for $700, with credit terms of V10, 30, invoice dated October 9. Cost of the merchandise is $450 Oct. 11 Received payment for the amount due from the October 1 sale less the return on October 6. BPM 24CD600 1/30/2022 Enter your
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