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Creative Leisure Land Inc. sells $340,000 of women's sportswear to Sears under credit terms of 2/10,net/46 on August 1, 2020. Creative Leisure Land's cost of
Creative Leisure Land Inc. sells $340,000 of women's sportswear to Sears under credit terms of 2/10,net/46 on August 1, 2020. Creative Leisure Land's cost of the goods is $82,000, and Creative Leisure Land receives the appropriate amount of cash from Sears on August 10, 2020. Assume Creative Leisure Land Inc. uses the perpetual inventory system. Journalize Creative Leisure Land's transactions for August 1, 2020, and August 10, 2020 a. Journalize Creative Leisure Land's sale. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Date Accounts Debit Credit b. Journalize Creative Leisure Land's cost of goods sold. Journal Entry Date Accounts Debit Credit c. Journalize Creative Leisure Land's cash receipt. (Round your answers to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next
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