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1. Record the foregoing transactions in the journal of Pastel Interiors using the gross method. (You do not need to make the cost of sales
1. Record the foregoing transactions in the journal of Pastel Interiors using the gross method. (You do not need to make the cost of sales journal entries; assume that these entries will be made by the company when it makes its other adjusting entries at period end.)
2. Calculate the amount of gross sales minus sales discounts for the month of January.
PLEASE INCLUDE AN EXPLAINATION ON HOW TO DO THE MATH TO FIND THE ANSWER! AND PLEASE PUT IT IN JOURNAL ENTRY FORM!
Jan 2 10 11 15 19 Sold merchandise on account to Tod Birch, $1,400, terms 3/10, n/30. Sold merchandise on account to Brad Ortiz, $2,000, terms 3/10, n/30. Collected payment from Birch for the January 2 sale. Ortiz returned $800 of the merchandise purchased on January 10. Collected payment from Ortiz for the balance of the January 10 sale
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