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Josh's Surfboard's uses the perpetual inventory system and had the following sales transactions during June: June 3: Sold merchandise to Georgia Surf Shop on credit
Josh's Surfboard's uses the perpetual inventory system and had the following sales transactions during June: June 3: Sold merchandise to Georgia Surf Shop on credit for $5,600, terms 3/15, n/60. The items sold at a cost of $3,360. June 6: Georgia Surf Shop returned merchandise that had a selling price of $600. The cost of the merchandise returned was $360. June 15: Georgia Surf Shop paid for the merchandise sold on June 3, taking any appropriate discount earned. Prepare the journal entries that Josh's Surfboard's must make to record these transactions.
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