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Brazen Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store

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Brazen Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $400 purchase on her American Express card. American Express charges a 3 percent credit card fee. Cost of goods sold was $275. July 15 Sold merchandise to Customer T at an invoice price of $4,400; terms 3/10, n/30. Cost of goods sold was $2,200. July 20 Collected cash due from Customer T. July 21 Before paying for the order, a customer returned shoes with an invoice price of $1,000, and cost of goods sold was $600. Complete the following table by entering the amounts of the effects of each transaction, including the related cost of goods sold. (Indicate decreases with a minus sign.) Cost of Gross Transaction Net Sales Goods Sold Profit July 12 July 15 July 20 July 21

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