Journal Entries for Sale, Return, and Remittance-Periodic System

On March 10, the Sharon Company sold merchandise listing for $2,200 to the Dillard Company, terms 2/10, n/30. On March 14, $500 worth of merchandise was returned because it was the wrong size. On March 20, Sharon Company received a check for the amount due.

Required

Record the journal entries made by Sharon Company for these transactions. Sharon uses the periodic inventory system.

General Journal
Date		Description	Debit	Credit
Mar.	10