Journalize the following merchandise transactions, using the net method under a perpetual inventory system. a. Sold merchandise on account, $21,950 with terms 2/10, n/30. The cost of the goods sold was $13,170. If an amount bax does not require an entry, leave it blank. D. Receved payment les the discount. If an amount ben does not requre an entry, leave it blank, e Refunded s510 to customer tor defective merchandise that was net retumed. If an amount bor does not require an entry, leave t blank.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sales Transactions
Journalize the following merchandise transactions, using the net method under a perpetual inventory system.
a. Sold merchandise on account, $21,950 with terms 2/10, r/30. The cost of the goods sold was $13,170. If an amount box does not require an entry, leave it blank.
b. Receved payment less the discount. If an amount bax does not require an entry, leave it blank.
C. Refunded $510 to customer for defective merchandise that was not returned. If an amount box does not require an entry, leave it blank.
Transcribed Image Text:Sales Transactions Journalize the following merchandise transactions, using the net method under a perpetual inventory system. a. Sold merchandise on account, $21,950 with terms 2/10, r/30. The cost of the goods sold was $13,170. If an amount box does not require an entry, leave it blank. b. Receved payment less the discount. If an amount bax does not require an entry, leave it blank. C. Refunded $510 to customer for defective merchandise that was not returned. If an amount box does not require an entry, leave it blank.
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