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Current Attempt in Progress Tamaris d euses a perpetual inventory system and the earnings approach to recognize revenue. The company offers credit terms to select

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Current Attempt in Progress Tamaris d euses a perpetual inventory system and the earnings approach to recognize revenue. The company offers credit terms to select customer. The following are transactions of Tamarisk Trading with some of its customers Feb. 5 Sold merchandise to Classen for $48,000, terms 1/10, 1/60 6 Classen returned $4,600 of merchandise. 11 Wrote off an account receivable from B. Wong of $1.500 after making repeated efforts to collect 15 Classen paid Tamarisk the amount owing. 28 Collected 5910 from a collection agency who managed to collect an account from Mancini that had been previously written off by Tamarisk Prepare the journal entries to record the above transactions. Ignore any riventory or cost of goods sold entries for the purposes of this question. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

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