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1. R Corporation had the following transactions in January 2021: Jan 4 Sold merchandise on credit to customers in the amount of $26,000. Payment
1. R Corporation had the following transactions in January 2021: Jan 4 Sold merchandise on credit to customers in the amount of $26,000. Payment Terms are 2/15, n/30. Jan 8 Customer returned $4,000 worth of goods from the January 4 purchase back to R Corp because they were defective. Jan 10 sold more merchandise on credit to customers in the amount of $20,000. Payment terms are 4/15, n/30. Jan 14 Customers paid cash for the remaining merchandise purchased and owed on account on January 4. The customers took advantage of all available discounts when determining the amount to be paid to R Corp. Customer did not pay reduced amount if the sales discount not available at time of payment. Jan 22 Customers paid cash for $12,000 of the merchandise purchased on January 10 and owed on account The customers took advantage of all available discounts when determining the amount to be paid to R Corp. Customer did not pay reduced amount if the sales discount not available at time of payment. Feb 8 Customers paid cash for the remaining $8,000 of the the merchandise purchased on January 10 and owed on account. Customer did not pay reduced amount because the sales discount not available at time of payment. The customers took advantage of all available discounts when determining the amount to be paid to R Corp. Customer did not pay reduced amount if the sales discount not available at time of payment. Provide the journal entry that R Co. should make on January 4 to record the sales: Accounts DR CR Provide the journal entry that R Co. should make on January 8 to record the sales return: Accounts DR CR Provide the journal entry that R Co. should make on January 10 to record the sales: Accounts DR CR Provide the journal entry that R Co. should make on January 14 to record the customer payment: Accounts CR DR Provide the journal entry that R Co. should make on January 22 to record the customer payment: Accounts DR CR Provide the journal entry that R Co. should make on February 8 to record the customer payment: Accounts DR CR What is R Corp's NET SALES for January? Show components of NET SALE AMOUNT (with dollars):
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