Question
Chegg Co. had the following activity during the month of February. Journalize each of the following transactions assuming a perpetual inventory system. Feb. 1
Chegg Co. had the following activity during the month of February. Journalize each of the following transactions assuming a perpetual inventory system. Feb. 1 Sold merchandise with a cost of $2,450 for $4,000; terms 2/10, n/30, FOB destination. 2 Paid $320 to ship the merchandise sold on February 1. 3 The customer of February 1 returned half of the amount purchased because it was the incorrect product; it was returned to inventory. 4 Sold merchandise to a customer for $2,900 (cost of sales $1,380); terms 2/10, n/30, FOB destination. 11 Collected the amount owing from the customer of February 1. 23 Sold merchandise to a customer for cash of $1,110 (cost of sales $630). 57:41 28 The customer of February 4 paid the amount owing. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 11 Record sale of merchandise for $4,000; terms 2/10, n/30, FOB destination. Note: Enter debits before credits. Date Feb. 01 General Journal Debit Credit
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