Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company h (Click the icon to view the i X More Info Read the requirements. March 3 March 4 Requirement 1. Record Jacks transactions. Record debits fir to record the sales March 3: Sold $16,000 of mer Vill do that in the next step. March 5 March 7 Date March 15 Mar 3 March 19 March 21 Sold $16,000 of merchandise to Wacht Company on account. Sold $2,400 of merchandise to Yanek Corp., who paid by credit card. The credit card company charges Jackson a fee of 3% on credit card sales. Wacht Company returned $700 of the merchandise from March 3. Sold $800 of merchandise to Magnum, Inc., on account. Wacht Company paid the balance of what it owed for the purchase on March 3. Sold $21,000 of merchandise to Zupko Co. on account. Zupko reported that some of the merchandise received was scratched and returned $1,100 worth of merchandise to Jackson. Sold $29,000 of merchandise to Nesbits Co. on account. Zupko paid the balance of what it owed for the purchase on March 19. Jackson made the adjusting entries for the month to accrue for estimated future returns. Jackson estimates that 3% of total sales will be returned. March 23 March 25 Now record the cost of goods March 31 Date Mar 3 Print Done Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record Jackson's transactions, including the cost of goods sold entry for each sale. (Use the gross method to record the sales transactions. Record debits first, then credits. Exclude explanations from any journal entries.) March 3: Sold $16,000 of mer i x Vill do that in the next step. Requirements Date Mar 3 1. Record Jackson's transactions, including the cost of goods sold entry for each sale. 2. Calculate the gross sales revenue for the month. Print Done Now record the cost of goods Journal Entry Date Accounts Debit Credit Mar 3 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. March 4: Sold $2,400 of merchandise to Yanek Corp., who paid by credit card. The credit card company charges Jackson a fee of 3% on credit card sales. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 4 Now record the cost of goods sold for the sale of merchandise on March 4. Journal Entry Date Accounts Debit Credit Mar 4 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. March 5: Wacht Company returned $700 of the merchandise from March 3. Do not record the inventory entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 5 Now record the inventory entry for the return of merchandise on March 5. Journal Entry Date Accounts Debit Credit Mar 5 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. March 7: Sold $800 of merchandise to Magnum, Inc., on account. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 7 Now record the cost of goods sold for the sale of merchandise on March 7. Journal Entry Date Accounts Debit Credit Mar 7 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. March 15: Wacht Company paid the balance of what it owed for the purchase on March 3. Journal Entry Date Accounts Debit Credit Mar 15 March 19: Sold $21,000 of merchandise to Zupko Co. on account. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 19 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. Now record the cost of goods sold for the sale of merchandise on March 19. Journal Entry Date Accounts Debit Credit Mar 19 March 21: Zupko reported that some of the merchandise received was scratched and returned $1,100 worth of merchandise to Jackson. Do not record the inventory entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 21 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. Now record the inventory entry for the return of merchandise on March 21. Journal Entry Date Accounts Debit Credit Mar 21 March 23: Sold $29,000 of merchandise to Nesbits Co. on account. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 23 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. Now record the cost of goods sold for the sale of merchandise on March 23. Journal Entry Date Accounts Debit Credit Mar 23 March 25: Zupko paid the balance of what it owed for the purchase on March 19. Journal Entry Date Accounts Debit Credit Mar 25 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. March 31: Jackson made the adjusting entries for the month to accrue for estimated future returns. Jackson estimates that 3% of total sales will be returned. First, prepare the entry to accrue for the estimated sales returns. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 31 Now record the cost of goods sold entry for the estimated future returns. (Round your answer to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Mar 31 Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. vale ACCOUTILS Depil leull Mar 31 Now record the cost of goods sold entry for the estimated future returns. (Round your answer to the nearest whole dollar.) Journal Entry Date Accounts Debit Credit Mar 31 Requirement 2. Calculate the gross sales revenue for the month. The gross sales revenue for the month is $ Jackson Industries sells to wholesalers. Customers must pay within 15 days or at the point of sale using a credit card. Jackson's cost of goods sold is 30% of sales. The company had the following selected transactions during March: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record Jackson's transactions, including the cost of goods sold entry for each sale. (Use the gross method to record the sales transactions. Record debits first, then credits. Exclude explanations from any journal entries.) March 3: Sold $16,000 of merchandise to Wacht Company on account. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Mar 3 Now record the cost of goods sold for the sale of merchandise on March 3. Journal Entry Date Accounts Debit Credit Mar 3