Prepare journal entries to record each of the merchandising transactions assuming that the company records purchases using the
gross method and a periodic inventory system.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
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 ; invoice dated April
Note: Enter debits before credits.
