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E6-4 (Algo) Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales, and Sales Returns and Allowances on Income Statement Categories LO6-1 Griffin Shoe
E6-4 (Algo) Determining the Effects of Credit Sales, Sales Discounts, Credit Card Sales, and Sales Returns and Allowances on Income Statement Categories LO6-1 Griffin Shoe Company records Sales Returns and Allowances. Sales Discounts, and Credit Card Discounts as contra-revenues. Juty 12 Sold serchandise to custoner at tactory store who charged the $500 purchase on her herican Express card. Anerican Express charges a-3 percent credit card fee. Cost of poods sold was $375. Juty is Sold eerchandise to Custoner T at an involce price of $4,100; term 2/10,2/30, Cost of goods sold was $2, eso. July 20 collected cast due fros custoner I. July 21 llefore paying for the order, a custoner returhed shoes with an involce price of $1,400 : cost of goods sotd was $846 : Complete the following table by entering the amounts of the effects of each transaction, including the related cost of goods sold Note: Indicate decreases with a minus sign
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