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Journalizing sales transactions Journalize the following sales transaction for Antique Mall. Explanations are not required. Jan 4 Sold $12,200 of antiques on account, credit terms

Journalizing sales transactions

Journalize the following sales transaction for Antique Mall. Explanations are not required.

Jan 4

Sold $12,200 of antiques on account, credit terms are 3/25, n/30. Cost of good is $6,400

8

Received a $400 sales return on damaged goods from the customer. Cost of goods damaged is $210.

13

Antique Mall receives payment from the customer on the amount due from Jan. 4 less the return and discount \.

20

Sold $4,800 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods $1,200

20

Antique Mall paid $100 on freight out

25

Antique Mall negotiated $300 allowance on the goods sold on Jan. 20.

29

Receives payment from the customer on the amount due from Jan. 20, less the allowance and discount.

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