QS 5-10 Sale of merchandise transactions-perpetual LO3 Journalize each of the following transactions...
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QS 5-10 Sale of merchandise transactions-perpetual LO3 Journalize each of the following transactions assuming a perpetual inventory system. Sept. 1 Sold merchandise to JenAir for $6,000 (cost of sales $4,200); terms 2/10,n/30. 14 Collected the amount owing regarding the September 1 sale to JenAir. 15 Sold merchandise costing $1,500 to Dennis Leval for $1,800; terms 2/10,n/30. 25 Collected the amount owing from the September 15 sale to Dennis Leval, less the applicable discount. QS 5-11 Sale of merchandise: allowance-perpetual LO3 Journalize each of the following transactions assuming a perpetual inventory system. Oct. 15 Sold merchandise to Leslie Garth for $900 (cost of sales $600 ); terms 1/5, n/20. 16 Issued a $100 credit memo to Leslie Garth regarding an allowance on the October 15 sale. 25 Collected the amount owing regarding the October 15 sale to Leslie Garth, less the allowance granted on October 16
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