Journalize the following transactions for Iron Sports Corp.: March 1 Iron Sports Corp. sold $64,200 of merchandise on account with credit terms of 2/10, n/30. Cost of merchandise sold was $29,900. March 8 Iron Sports Corp. received $5,000 sales return on damaged goods from the customer. The cost of merchandise returned was $2,400. March 15 Iron Sports Corp. received payment from the customer on the amount due, less the return and discount. Date March 1 March 1 March 8 March 8 March 15 Description ◆ I JOLI + → Debit Credit

Journalize the following transactions for Iron Sports Corp.: March 1 Iron Sports Corp. sold $64,200 of merchandise on account with credit terms of 2/10, n/30. Cost of merchandise sold was $29,900. March 8 Iron Sports Corp. received $5,000 sales return on damaged goods from the customer. The cost of merchandise returned was $2,400. March 15 Iron Sports Corp. received payment from the customer on the amount due, less the return and discount. Date March 1 March 1 March 8 March 8 March 15 Description ◆ I JOLI + → Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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