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Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store

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Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $700 purchase on her American Express card. American Express charges a 2 percent credit card fee. Cost of goods sold was $575. July 15 Sold merchandise to Customer T at an invoice price of $5,500; terna 2/10, n/30. Cost of goods sold was $2,750. July 20 collected cash due from Customer T. July 21 Before paying for the order, a customer returned shoes with an invoice price of $1,500; cost of goods sold was $900. Complete the following table by entering the amo f the effects of each transaction, including the related cost of goods sold. (Indicate decreases with a minus sign.) Transaction Net Sale+ Cost of Goods Sold Cross Profit July 12 July 15 July 20 July 21

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