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Craig's Snowboards uses the perpetual inventory system and the gross method of accounting for sales, and had the following sales transactions during June: 25 points
Craig's Snowboards uses the perpetual inventory system and the gross method of accounting for sales, and had the following sales transactions during June: 25 points June 2, 2019 Sold merchandise to General Sports Store on credit for $4,800, terms 1/15, n/60. The items sold had a cost of $2,700. June 4, 2019 General Sports Store returned merchandise that had a selling price of $200. The cost of the merchandise returned was $110. June 13, 2019 General Sports Store paid for the merchandise sold on June 2 less the return, taking any appropriate discount earned. Prepare the journal entries that Craig's Snowboards must make to record these transactions
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