ch 5 quest 3

Journalize the following sales transactions for Lemon's Boutique. Explanations are not required. The company estimates sales returns at the end of each month. (Assume the company uses a perpetual inventory system and records sales at the net amount.) (Click the icon to view the transactions.) Journalize the sales transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Mar. 3: Lemon sold $67,000 of women's clothes on account, credit terms are 1/10,n/30, to Maddie's Dresses. Cost of goods is $39,000. 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. More info Mar. 3 Lemon sold $67,000 of women's clothes on account, credit terms are 1/10,n/30, to Maddie's Dresses. Cost of goods is $39,000. Mar. 7 Lemon granted a sales allowance of $1,000 for the clothes sold on March 3. Maria's Dresses did not return the inventory. Mar. 10 Lemon receives payment from Maddie's Dresses on the amount due, less sales allowance and discount