On July 8, 2014, Aster Co. issued debit memorandum No. 1 for $400 to Reel Co. for

Question:

On July 8, 2014, Aster Co. issued debit memorandum No. 1 for $400 to Reel Co. for merchandise returned from invoice No. 312. Your task is to journalize, record, and post this transaction as appropriate for Reel Co. Use the same account numbers as found in the text for Art’s Wholesale Clothing Company. The general journal page is page 1.