The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system...
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The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. October 1 Sold nerchandise for $3,300, with eredit terms n/30, invoice dated october 1 . The cost of the merchandise is $1,800. Dctober 6 The customer in the October 1 sale returned $330 of morchandise for full credit. The merchandise, which had cost $180, is returned to inventory. October 9 Sold merchandise for $1,600cash. Cost of the merchandise is $1,170. october 30 Received payment for the amount due from the october 1 sale less the return on october 6. Use the above sales transactions of EcoMart Merchandising to prepare journal entries, Journal entry worksheet Note: finter debits before credits
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