Date

Account Titles

Debit

Credit

$($To record sales on account.$)$

$($To record cost of goods sold.$)$

Cullumber Paint Distributors uses a perpetual inventory system. The company had the following transactions in March.

Mar. Sold $$13,900$ of merchandise to Fresh Look Paint Stores, terms $2/10,$ n$/30,$ FOB destination. The merchandise had cost

$16$ Central Paint Distributors $$9,300.$

$17$ Paid freight costs of $$140$ for the March $16$ sale.

$18$ Gave Fresh Look Paint Stores an allowance of $$750$ for the March $16$ sale. There was some minor damage to the goods.

$25$ Collected the balance due from Fresh Look Paint Stores.

$($a$)$

For each transaction, prepare a journal entry to record the transaction. $($Credit account titles are automatically indented when the

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.

Record journal entries in the order presented in the problem. List all debit entries before credit entries