Review the following sales transactions for Dish Mart and record any required journal  entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 13 sets of dishes at a price of $700 per set to customer  Emma Purcell. The cost per set is $460 to Dish Mart. Mar. 9 Dish Mart sold 23 sets of dishes to Emma for $650 per set on credit, at a cost to Dish  Mart of $435 per set. Terms of the sale are 5/15, n/60, invoice date March 9. Mar. 13 Emma returns eight of the dish sets from the March 9 sale to Dish Mart for a full  refund. Dish Mart returns the dish sets to inventory at their original cost of $435 per set. Mar. 14 Dish Mart sells 6 sets of dishes to Emma for $670 per set on credit, at a cost to  Dish Mart of $450 per set. Terms of the sale are 5/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase, and 7 of the  dish sets from the March 5 sale are missing a few dishes, but keeps them since Dish Mart granted  an allowance of $2,670 for all 10 dish sets. Dish Mart and Emma have agreed to reduce the  amount Dish Mart has outstanding instead of sending a separate check for the March 5 allowance  in cash. Mar. 24 Emma Purcell pays her account in full for all outstanding purchases, less any  returns, allowances, and/or discount

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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PA8.) Review the following sales transactions for Dish Mart and record any required journal 
entries.
Note that all sales transactions are with the same customer, Emma Purcell.
Mar. 5 Dish Mart made a cash sale of 13 sets of dishes at a price of $700 per set to customer 
Emma Purcell. The cost per set is $460 to Dish Mart.
Mar. 9 Dish Mart sold 23 sets of dishes to Emma for $650 per set on credit, at a cost to Dish 
Mart of $435 per set. Terms of the sale are 5/15, n/60, invoice date March 9.
Mar. 13 Emma returns eight of the dish sets from the March 9 sale to Dish Mart for a full 
refund. Dish Mart returns the dish sets to inventory at their original cost of $435 per set.
Mar. 14 Dish Mart sells 6 sets of dishes to Emma for $670 per set on credit, at a cost to 
Dish Mart of $450 per set. Terms of the sale are 5/10, n/60, invoice date March 14.
Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase, and 7 of the 
dish sets from the March 5 sale are missing a few dishes, but keeps them since Dish Mart granted 
an allowance of $2,670 for all 10 dish sets. Dish Mart and Emma have agreed to reduce the 
amount Dish Mart has outstanding instead of sending a separate check for the March 5 allowance 
in cash.
Mar. 24 Emma Purcell pays her account in full for all outstanding purchases, less any 
returns, allowances, and/or discount

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