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Journalize each of the following transactions assuming a perpetual inventory system. Feb. 1 Sold merchandise with a cost of $2,450 for $4,000; terms 2/10, n/30,
Journalize each of the following transactions assuming a perpetual inventory system. Feb. 1 Sold merchandise with a cost of $2,450 for $4,000; terms 2/10, n/30, FOB destination. 2 Paid $320 to ship the merchandise sold on February 1. 3 The customer of February 1 returned half of the amount purchased because it was the incorrect product; it was returned to inventory. 4 Sold merchandise to a customer for $2,900 (cost of sales $1,380); terms 2/10, n/30, FOB destination. 11 Collected the amount owing from the customer of February 1. 23 Sold merchandise to a customer for cash of $1,110 (cost of sales $630). 28 The customer of February 4 paid the amount owing. View transaction list Journal entry worksheet Record sale of merchandise for $4,000; terms 2/10, n/30, FOB destination. Note: Enter debits before credits. Date General Journal Debit Credit Feb 01 Record entry Clear entry View general journal Journal entry worksheet 1 3 3 4 5 6 7 8 11 ..... N > Record cost of sale $2,450 of merchandise sold on February 1. Note: Enter debits before credits. General Journal Debit Date Feb. 01 Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 11 N Record delivery expenses for goods sold $320. Note: Enter debits before credits. General Journal Debit Credit Date Feb. 02 Record entry Clear entry View general journal Journal entry worksheet IEEEE Record sale of merchandise for $2,900; terms 2/10, n/30, FOB destination. Note: Enter debits before credits. General Journal Debit Credit Date Feb. 04 Record entry Clear entry View general journal Journal entry worksheet N IIIII Record cost of sales $1,380 of merchandise sold on February 4. Note: Enter debits before credits. General Journal Debit Credit Date Feb. 04 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 11 Record the collection of amount owed by the customer for sale made on February 1. Note: Enter debits before credits. Date General Journal Debit Credit Feb. 11 Record entry Clear entry View general journal Journal entry worksheet Record cost of sales of $630 for merchandise sold on February 23. Note: Enter debits before credits. General Journal Debit Credit Date Feb. 23 Record entry Clear entry View general journal Journal entry worksheet Record the collection of amount owed by the customer for sale made on February 4. Note: Enter debits before credits. General Journal Debit Credit Date Feb. 28 Record entry Clear entry View general journal
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