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i need help ansering these questions Required information [The following information applies to the questions displayed below.] The following are the sales transactions of EcoMart
i need help ansering these questions
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 $1,800, with credit terms n/30, invoice dated october 1 . The cost of the merchandise is $1,050. October 6 The customer in the October 1 sale returned $180 of merchandise for full credit. The merchandise, which had cost $105, is returned to inventory. 0ctober 9 Sold merchandise for $850 cash. Cost of the merchandise is $570. October 30 Received payment for the amount due from the 0ctober 1 sale less the return on october 6. Use the above sales transactions of EcoMart Merchandising to prepare journal entries. Journal entry worksheet 4567 Sold merchandise for $1,800, with credit terms n/30, invoice dated October 1. Note: Enter debits before credits. Journal entry worksheet 4 5 Journal entry worksheet The customer in the October 1 sale returned $180 of merchandise for full credit. Note: Enter debits before credits. Journal entry worksheet Step by Step Solution
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