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1 Record the sale of merchandise for $ 4 0 0 cash to Cheryl Jahn. 2 Record the cost of goods sold to Cheryl Jahn
Record the sale of merchandise for $ cash to Cheryl Jahn. Record the cost of goods sold to Cheryl Jahn at $ Record the sale of merchandise for $ to Vasko Athletics on terms Record the cost of goods sold to Vasko Athletics at $ Record the sale of merchandise for $ to Nancy's Gym on terms n Record the cost of goods sold to Nancy's Gym at $ Note : journal entry has been entered Record the return of goods sold to Nancy's Gym purchased on November Record the cost of goods returned by Nancy's Gym. Record the receipt of cash due from Nancy's Gym. Record the receipt of cash due from Vasko Athletics for the invoice of November Note : journal entry has been enteredThe following transactions were selected from among those completed by Bear's Retail Store: November Sold two items of merchandise to Cheryl Jahn, who paid the $ sales price in cash. The goods cost Bear's $ November Sold items of merchandise to Vasko Athletics at a selling price of $total; terms n The goods cost Bear's $ November Sold identical items of merchandise to Nancy's Gym at a selling price of $total; terms n The goods cost Bear's $ November Nancy's Gym returned one of the items purchased on the th The item was in perfect condition and credit was given to the customer on account. No further returns are expected. December Nancy's Gym paid the account balance in full. December Vasko Athletics paid in full for the invoice of November Required: Prepare journal entries to record the transactions, assuming Bear's Retail Store records discounts using the gross method in a perpetual inventory system. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field.
Record the sale of merchandise for $ cash to Cheryl
Jahn.
Record the cost of goods sold to Cheryl Jahn at $
Record the sale of merchandise for $ to Vasko
Athletics on terms
Record the cost of goods sold to Vasko Athletics at
$
Record the sale of merchandise for $ to Nancy's
Gym on terms n
Record the cost of goods sold to Nancy's Gym at $
Note : journal entry has been entered Record the return of goods sold to Nancy's Gym
purchased on November
Record the cost of goods returned by Nancy's Gym.
Record the receipt of cash due from Nancy's Gym.
Record the receipt of cash due from Vasko Athletics for
the invoice of November
Note : journal entry has been enteredThe following transactions were selected from among those completed by Bear's Retail Store:
November Sold two items of merchandise to Cheryl Jahn, who paid the $ sales price in cash. The goods cost Bear's
$
November Sold items of merchandise to Vasko Athletics at a selling price of $total; terms n The
goods cost Bear's $
November Sold identical items of merchandise to Nancy's Gym at a selling price of $total; terms n
The goods cost Bear's $
November Nancy's Gym returned one of the items purchased on the th The item was in perfect condition and credit
was given to the customer on account. No further returns are expected.
December Nancy's Gym paid the account balance in full.
December Vasko Athletics paid in full for the invoice of November
Required:
Prepare journal entries to record the transactions, assuming Bear's Retail Store records discounts using the gross method in a
perpetual inventory system. If no entry is required for a transactionevent select No Journal Entry Required" in the first account
field.
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