Journalize the following sales transactions for Middleton. Journalize the following sales transactions for Middleton. Mar. Apr. 1 3 10 15 Middleton Supply sold merchandise inventory for $3,400. The cost of the inventory was $2,380. The customer paid cash. Middleton. Supply was running a promotion and the customer received a $160 award at the time of sale that can be used at a future date on any Middleton Supply merchandise. Sold $8,000 of supplies on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is 5,600. Received payment from the customer on the amount due from March 3, less the discount. The customer used the $160 award when purchasing merchandise inventory for $300, the cost of the inventory was $210. The customer paid cash.
Journalize the following sales transactions for Middleton. Journalize the following sales transactions for Middleton. Mar. Apr. 1 3 10 15 Middleton Supply sold merchandise inventory for $3,400. The cost of the inventory was $2,380. The customer paid cash. Middleton. Supply was running a promotion and the customer received a $160 award at the time of sale that can be used at a future date on any Middleton Supply merchandise. Sold $8,000 of supplies on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is 5,600. Received payment from the customer on the amount due from March 3, less the discount. The customer used the $160 award when purchasing merchandise inventory for $300, the cost of the inventory was $210. The customer paid cash.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Journalize the following sales transactions for Middleton. Journalize the following sales transactions for
Middleton.
Mar.
Apr.
1
3
10
15
Middleton Supply sold merchandise inventory for $3,400. The cost of the inventory
was $2,380. The customer paid cash. Middleton. Supply was running a promotion
and the customer received a $160 award at the time of sale that can be used at a
future date on any Middleton Supply merchandise.
Sold $8,000 of supplies on account, credit terms are 1/10, n/45, FOB destination. Cost
of goods is 5,600.
Received payment from the customer on the amount due from March 3, less the
discount.
The customer used the $160 award when purchasing merchandise inventory for $300,
the cost of the inventory was $210. The customer paid cash.
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