April 1: Queen Company sold merchandise inventory for $230 . The cost of the inventory was $115, The customer paid cash. Queen Company was running a promotion and the customer received a $10 award at the time of sale that can be used at a future date on any Queen Company merchandise.

Begin preparing the entry to journalize the sale portion if the transaction. Do not record the expense related to the sale. We will do that in the following step. (Record debits first, then credits, exclude explanations from journal entries)

+assume the company uses a perpectual inventory system.

- these are the transactions

umatze the following sales transaction for Queen Company, Ecolanations are nox required. Aanme the company when a perpetual inventory ayatni (Click the icon to view the functions) Queen Company old marchandian inventory for $230 The cost of the inventory was $115. The customer paid cash. Queen Company was running a promotion und ore customer received 510 were the an of slett gan be used at a tree on any Queen Company merchandise Begin by preparing the entry to journalive the male portion of the transaction. Do not record the expense related to the We will do that in the following plecord debts first, then credit de prome om journal entries Date Accounts Debit Cred Apr1 any Queen a e portion of the * More Info tep. Apr. 1 Queen Company sold merchandise inventory for $230. The cost of the inventory was $115. The customer paid cash. Queen Company was running a promotion and the customer received a $10 award at the time of sale that can be used at a future date on any Queen Company merchandise. May 15 The customer uses the $10 award when purchasing merchandise inventory for $65. The cost of the inventory was $19. The customer paid cash. Print Done er in the input fields and then click Check Answer Clear All