Branson Vaziefy Stare had the following balances as of November 1 . The following selected transactions occurred at Branson Varety Slore dunng the month (i) (Cick the kon to viow the bilances) of Noverabes (i) (Cick tho icon to vew the transactoons) Read the cepurements Requirement 1. Record Branson's November transactions, ncluding the cost of goods sold enthes for each sale (Use the gross mothod to recoed the solos transactions: Record debits first, men credits Exclude explanations trom any foumal entios) November 3. Sold $250 of mecchandise to Meador's inc, which pad for the itecns in cash. The tems cost Brenson $130. Do not tocord the cost of goods sold enty yot We will do that in the next step More info Accounts Receivable $5,500 Allowance for Uncollectible Accounts $330 credit balance More info November 3 Sold $250 of merchandise to Meador's Inc., which paid for the items in cash. The items cost Branson $130. November 5 Sold $700 of merchandise to Lamar Co., which paid by credit card. The credit card company charges Branson a fee of 2% on credit card sales. Branson's cost of this merchandise was $75. November 10 Sold $1,700 of merchandise to Wave Rock on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $360. November 11 Sold $2,400 of merchandise to Abato Shoppes on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $1,130. November 12 Sold $930 of merchandise to Baltic Light Inc, on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $372. November 18 Wave Rock reported that some of the merchandise received was in a different color than ordere so it returned $200 of the merchandise. The cost to Branson was $80. November 20 Abato Shoppes paid the balance of what it owed for the purchase on November 11. November 22 Baltic Light Inc, returned $280 of the merchandise for a refund. Branson's cost of the returned merchandise was $112. More info November 22 Baltic Light Inc, returned $280 of the merchandise for a refund. Branson's cost of the returned merchandise was $112. November 22 Baltic Light Inc., paid the remaining balance owed for the purchase on November 12. November 23 Sold $5,300 of merchandise to Cambridge Co. on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $2,120. November 25 Wave Rock paid the balance of what it owed for the purchase on November 10. November 26 Discovered that Eldon Enterprises, a customer owing \$190 from a July transaction, declared bankruptcy and there is no chance of collection. Wrote off the balance of Eldon's account. November 27 Sold $600 of merchandise to Dennis's One-Stop-Shop on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $180. November 1-30 Sales on account during the month of November for transactions not listed individually totaled $6,900. Cost of goods sold for these sales totaled $2,760. November 1-30 Credit card sales on account during the month of November for transactions not listed individually totaled $2,600. The credit card company charges Branson a fee of 2% on credit chance of collection. Wrote off the balance of Eldon's account. lovember 27 Sold $600 of merchandise to Dennis's One-Stop-Shop on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $180. November 1-30 Sales on account during the month of November for transactions not listed individually totaled $6,900. Cost of goods sold for these sales totaled $2,760. November 1-30 Credit card sales on account during the month of November for transactions not listed individually totaled $2,600. The credit card company charges Branson a fee of 2% on credit card sales. Cost of goods sold for these sales totaled $950. November 1-30 Cash collections on account during the month of November for transactions not listed individually totaled $4,200. (No discounts were taken by these customers.) November 30 Branson made the adjusting entries for the month to accrue for estimated future returns. Branswen estimates that 5% of total sales will be returned. Branson assumes that cost of goods sold is 30% of sales. November 30 Branson made an adjusting entry to estimate uncollectible account expense for the month of November. Branson estimates its uncollectible-account expense as 5% of total credit (on account) sales for the month. Branson Vaziefy Stare had the following balances as of November 1 . The following selected transactions occurred at Branson Varety Slore dunng the month (i) (Cick the kon to viow the bilances) of Noverabes (i) (Cick tho icon to vew the transactoons) Read the cepurements Requirement 1. Record Branson's November transactions, ncluding the cost of goods sold enthes for each sale (Use the gross mothod to recoed the solos transactions: Record debits first, men credits Exclude explanations trom any foumal entios) November 3. Sold $250 of mecchandise to Meador's inc, which pad for the itecns in cash. The tems cost Brenson $130. Do not tocord the cost of goods sold enty yot We will do that in the next step More info Accounts Receivable $5,500 Allowance for Uncollectible Accounts $330 credit balance More info November 3 Sold $250 of merchandise to Meador's Inc., which paid for the items in cash. The items cost Branson $130. November 5 Sold $700 of merchandise to Lamar Co., which paid by credit card. The credit card company charges Branson a fee of 2% on credit card sales. Branson's cost of this merchandise was $75. November 10 Sold $1,700 of merchandise to Wave Rock on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $360. November 11 Sold $2,400 of merchandise to Abato Shoppes on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $1,130. November 12 Sold $930 of merchandise to Baltic Light Inc, on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $372. November 18 Wave Rock reported that some of the merchandise received was in a different color than ordere so it returned $200 of the merchandise. The cost to Branson was $80. November 20 Abato Shoppes paid the balance of what it owed for the purchase on November 11. November 22 Baltic Light Inc, returned $280 of the merchandise for a refund. Branson's cost of the returned merchandise was $112. More info November 22 Baltic Light Inc, returned $280 of the merchandise for a refund. Branson's cost of the returned merchandise was $112. November 22 Baltic Light Inc., paid the remaining balance owed for the purchase on November 12. November 23 Sold $5,300 of merchandise to Cambridge Co. on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $2,120. November 25 Wave Rock paid the balance of what it owed for the purchase on November 10. November 26 Discovered that Eldon Enterprises, a customer owing \$190 from a July transaction, declared bankruptcy and there is no chance of collection. Wrote off the balance of Eldon's account. November 27 Sold $600 of merchandise to Dennis's One-Stop-Shop on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $180. November 1-30 Sales on account during the month of November for transactions not listed individually totaled $6,900. Cost of goods sold for these sales totaled $2,760. November 1-30 Credit card sales on account during the month of November for transactions not listed individually totaled $2,600. The credit card company charges Branson a fee of 2% on credit chance of collection. Wrote off the balance of Eldon's account. lovember 27 Sold $600 of merchandise to Dennis's One-Stop-Shop on account. Terms were 2/10, net 30 . Branson's cost of this merchandise was $180. November 1-30 Sales on account during the month of November for transactions not listed individually totaled $6,900. Cost of goods sold for these sales totaled $2,760. November 1-30 Credit card sales on account during the month of November for transactions not listed individually totaled $2,600. The credit card company charges Branson a fee of 2% on credit card sales. Cost of goods sold for these sales totaled $950. November 1-30 Cash collections on account during the month of November for transactions not listed individually totaled $4,200. (No discounts were taken by these customers.) November 30 Branson made the adjusting entries for the month to accrue for estimated future returns. Branswen estimates that 5% of total sales will be returned. Branson assumes that cost of goods sold is 30% of sales. November 30 Branson made an adjusting entry to estimate uncollectible account expense for the month of November. Branson estimates its uncollectible-account expense as 5% of total credit (on account) sales for the month