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fast please ill thumbs up ! Required information [The following information applies to the questions displayed below] The following are the sales transactions of EcoMart
fast please ill thumbs up
! Required information [The following information applies to the questions displayed below] The following are the sales transactions of EcoMart Merchandising. EcoMart uses a perpetual inventory system and the gross method. October 1 Sold merchandise for $1,900, with credit terms n/30, invoice dated October 1. The cost of the merchandise is $1,100. October 6 The customer in the October 1 sale returned $190 of merchandise for full credit. The merchandise, which had cost $110, is returned to inventory. October 9 Sold merchandise for $900 cash. Cost of the merchandise is $610. October 30 Received payment for the amount due from the October 1 sale less the return on October 6. Use the above sales transactions of EcoMart Merchandising to prepare journal entries. Journal entry worksheet 2 3 4 5 6 7 Sold merchandise for $1,900, with credit terms n/30, invoice dated October 1. Note: Enter debits before credits. Date General Journal Debit Credit Cint Step by Step Solution
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