Journalize the following transactions for Beautiful Decor, Inc., that occurred during the month of November assuming the "net" method is used. Beautiful DecorBeautiful Decor's cost of inventory is 70 percent of the sales price.

I am having trouble figuring this problem out. Would really appreciate it if someone could solve and explain it to me so I can understand.

Homework: Homework - Chapter 04 Score: 0.36 of 2 pts & E-19A (similar to) Save 4 of 4 (4 complete) HW Score: 79.55%, 6.36 of 8 pts i Question Help * Journalize the following transactions for Beautiful Decor, Inc., that occurred during the month of November assuming the "net' method is used. Beautiful Decor's cos of inventory is 70 percent of the sales price. (Record debits first, then credits. Exclude explanations from any journal entries.) Click the icon to view the transactions.) Nov 3: Sokd $2,100 of merchandise on account, terms 2115, n45, FOB shipping point. Beautiful Decor, Inc., prepaid $95 of shipping costs and added the amount to the customers invcice. Begin by recording the sale portion of the entry. (Do not yet record the cost related to the sale. We will do this in the next joumal entry. Prepare a compound entry accounting for the sales revenue as well as the cash paid for shipping.) ournal Entry More Info Date Accounts Deblt Credit Nov 3 Accounts receivable 2,100 Sales revenue Nov 3 Sold $2,100 of merchandise on account, terms 2115, ni45. FOB shipping point. Beautiful Decor, Inc, prepaid $95 of shipping costs and added the amount to the customer's invoice 7 ssued a credit memo to the customer acknowledging the return of $300 (sales price) of unwanted gcods. 18 Received paynent in full frorn the customer for thhe November 3 invoice. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. Clear All Check