Cosmic Corporation had the following transactions in

June:

 

More Info

Jun. 1	Sold merchandise inventory on account to Cody Company, $1,485.
Jun. 6	Sold merchandise inventory for cash, $560.
Jun. 12	Received cash from Cody Company in full settlement of its accounts receivable.
Jun. 20	Sold merchandise inventory on account to Indigo Company, $740.
Jun. 22	Sold merchandise inventory on account to Demann Company, $245.
Jun. 28	Received cash from Indigo Company in partial settlement of its accounts receivable, $500.

 

 

Requirement 1. Journalize the transactions. Ignore Cost of Goods Sold. Omit explanations. (Record debits first, then credits. Exclude explanations from journal entries.)

 

Jun.

1: Sold merchandise inventory on account to

Cody

Company,

$1,485.

 

Date			Accounts and Explanation	Debit	Credit
Jun. 1

 

Jun.

6: Sold merchandise inventory for cash,

$560.

 

Date			Accounts and Explanation	Debit	Credit
Jun. 6

 

Jun.

12: Received cash from

Cody

Company in full settlement of its accounts receivable.

 

Date			Accounts and Explanation	Debit	Credit
Jun. 12

 

Jun.

20: Sold merchandise inventory on account to

Indigo

Company,

$740.

 

Date			Accounts and Explanation	Debit	Credit
Jun. 20

 

Jun.

22: Sold merchandise inventory on account to

Demann

Company,

$245.

 

Date			Accounts and Explanation	Debit	Credit
Jun. 22

 

Jun.

28: Received cash from

Indigo

Company in partial settlement of its accounts receivable,

$500.

 

Date			Accounts and Explanation	Debit	Credit
Jun. 28