Cash, sales discounts, accounts receivable

Journal Entries for Sale, Return, and Remittance-Perpetual System On September 13, Brady Company sold merchandise with an invoice price of $1, 100 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September 17, $250 of the merchandise ($100 cost) was returned because it was the wrong model. On September 23, Brady Company received a check for the amount due from Dalton Company. Required Prepare the journal entries made by Brady Company for these transactions. Brady uses the perpetual inventory system. Round your answers to the nearest dollar. General Journal Date Description Debit Credit Sept. 13 Accounts Receivable V 1,100 OV Sales Revenue OV 1,100 Sold merchandise to Dalton Company terms 2/10, n/30. 13 Cost of Goods Sold V 600 0 Inventory v OV 600 Cost of merchandise sold to Dalton Company. 17 Sales Returns and Allowances 4 V 250 OV Accounts Receivable V OV 250 Merchandise returned by Dalton Company. 17 Inventory V 100 O V Cost of Goods Sold v O V 100 Cost of merchandise returned by Dalton Company. 23 Cash X OV Sales Discounts V Accounts Receivable V O V X Remittance received from Dalton Company