Calming Creations Gift Shop uses a perpetual inventory system. Journalize the following transactions for Calming Creations Gift Shop. Explanations are not required. 10: Sold merchandise inventory on account for $4,000 to Thyme Table. Payment terms were 1/15, n/30. These goods cost the company $2,000. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step.

Now journalize the expense related to the February 10 sale- Cost of goods, $2,000.

Feb. 12: Paid amount owed on credit purchase of February 3, less the return and the discount.

Feb. 28: Received cash from Thyme Table in full settlement of their debt.

Feb. 10: Sold merchandise inventory on account for $4,000 to Thyme Table. Payment terms were 1/15,n/30. These goods cost the company $2,000. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expens related to the sale. We will do that in the following step