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Journalize the following sales transactions for Middleton. Journalize the following sales transactions for Middleton. Mar. 1 Middleton Supply sold merchandise inventory for $3,400. The cost

Journalize the following sales transactions for Middleton. Journalize the following sales transactions for

Middleton.

Mar.

1

Middleton Supply sold merchandise inventory for $3,400. The cost of the inventory was $2,380. The customer paid cash. Middleton. Supply was running a promotion and the customer received a $160 award at the time of sale that can be used at a future date on any Middleton Supply merchandise.

3

Sold $8,000 of supplies on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is 5,600.

10

Received payment from the customer on the amount due from March 3, less the discount.

Apr.

15

The customer used the $160 award when purchasing merchandise inventory for$300, the cost of the inventory was $210. The customer paid cash.

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