E5-21 Journalizing sales transactions Journalize the following sales transactions for Antique Mall. Explanations are not required. The company estimates sales returns at the end of each month. Jan. 4 8 13 20 20 29 Sold $16,000 of antiques on account, credit terms are n/30. Cost of goods is $8,000. Received a $300 sales return on damaged goods from the customer. Cost of goods damaged is $150. Antique Mall received payment from the customer on the amount due from Jan. 4, less the return. Sold $4,900 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is $2,450. Antique Mall paid $70 on freight out. Received payment from the customer on the amount due from Jan. 20, less the discount.

Journalizing sales transactions Journalize the following sales transactions for Antique Mall. Explanations are not required. The company estimates sales returns at the end of each month. Jan. 4 Sold $16,000 of antiques on account, credit terms are n/30. Cost of goods is $8,000. 8 Received a $300 sales return on damaged goods from the customer. Cost of goods damaged is $150. 13 Antique Mall received payment from the customer on the amount due from Jan. 4, less the return. 20 Sold $4,900 of antiques on account, credit terms are 1/10,n/45, FOB destination. Cost of goods is $2,450. 20 Antique Mall paid $70 on freight out. 29 Received payment from the customer on the amount due from Jan. 20 , less the discount