dovokereta Assignments sont cator progresse 0 Cornerstone Exercise 6-21 (Algorithmic) Recording Sales Transactions Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April a. On April 1. Mathis Company purchased merchandise on account from Reece Company with credit terms of 2/10, 130. The selling price of the merchandise was $3.900, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis paid freight charges of $100 cash to have the goods delivered to its warehouse c. On April 8, Mathis returned $1,000 of the merchandise which had originally cost Reece $700. d. On April 10, Mathis paid Reece the balance due Required: Prepare the journal entries to record these transactions on the books of Reece Company. Assume that Reece uses the net method to record sales on account for a compound transaction, if an amount box does not require an entry, leave it blank April 1 (Recorded sale on account) April 1 (Recorded cost of merchandise sold) April (Recorded return of merchandise) Check My Work Smare Check My Work uses temaining WHY All work saved Email Instructor Save and Exit dovokereta Assignments sont cator progresse 0 Cornerstone Exercise 6-21 (Algorithmic) Recording Sales Transactions Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April a. On April 1. Mathis Company purchased merchandise on account from Reece Company with credit terms of 2/10, 130. The selling price of the merchandise was $3.900, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis paid freight charges of $100 cash to have the goods delivered to its warehouse c. On April 8, Mathis returned $1,000 of the merchandise which had originally cost Reece $700. d. On April 10, Mathis paid Reece the balance due Required: Prepare the journal entries to record these transactions on the books of Reece Company. Assume that Reece uses the net method to record sales on account for a compound transaction, if an amount box does not require an entry, leave it blank April 1 (Recorded sale on account) April 1 (Recorded cost of merchandise sold) April (Recorded return of merchandise) Check My Work Smare Check My Work uses temaining WHY All work saved Email Instructor Save and Exit