Question
1. Record the cash sales of $490 to Cheryl Jahn. 2. Record the cost of goods sold of $360. 3. Record the sales on account
1. Record the cash sales of $490 to Cheryl Jahn.
2. Record the cost of goods sold of $360.
3. Record the sales on account of 20 items for $4,600 to Vasko Athletics on terms 3/10, n/30.Record the sales on account of 20 items for $4,600 to Vasko Athletics on terms 3/10, n/30.
4. Record the cost of goods sold of $2,800.
5. Record the sales on account of 10 items for $6,600 to Nancys Gym on terms 3/10, n/30.
6. Record the cost of goods sold of $4,300.
7. Record the return of 1 item by Nancys Gym in perfect condition for which credit was given to the customer.
8. Record the reversal of the cost of goods sold for the sales return.
9. Record the receipt of payment in full from Nancys Gym.
10. Record the receipt of payment in full from Vasko Athletics.
The following transactions were selected from among those completed by Bear's Retail Store Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid the $490 sales price in cash. The goods cost Bear's $360 25 Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,600 (total), terms 3/10, n/30. The goods cost Bear's $2,800 28 Sold 10 identical items of merchandise to Nancy's Gym at a selling price of $6,600 (total); terms 3/10, n/30. The goods cost Bear's $4,300 29 Nancy's Gym returned one of the items purchased on the 28th. The item was in perfect condition and credit was given to the customer Dec. 6 Nancy's Gym paid the account balance in full 30 Vasko Athletics paid in full for the invoice of November 25 Required Prepare journal entries to record the transactions, assuming Bear's Retail Store uses a perpetual inventory system. (lf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 2 4 6 8 10 Record the cash sales of $490 to Cheryl Jahn Note: Enter debits before credits Date General Journal Debit Credit Nov. 20 Record entry Clear entry View general journal
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