Cornerstone Exercise $6-19($Algorithmic$)$

Recording Sales Transactions

Jeet Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April:

of the merchandise sold was $$2,450.$

b$.$ On April $1,$ Jeet paid freight charges of $$100$ cash to have the goods delivered to its warehouse.

c$.$ On April $8,$ Jeet returned $$1,000$ of the merchandise which had originally cost Reece $$700.$

d$.$ On April $10,$ Jeet paid Reece the balance due.

Required:

blank.

April $1$

$($Recorded sale on account$)$

April $1$

$($Recorded cost of goods sold$)$

April $8$

$($Recorded return of goods$)$

April $8$

$($Recorded cost of goods returned$)$