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Mayfair Company completed the following transactions and uses a perpetual inventory system. June 4 Sold $ 6 5 0 of merchandise on credit ( that
Mayfair Company completed the following transactions and uses a perpetual inventory system.
June Sold $ of merchandise on credit that had cost $ to Natara Morris, terms n
June Sold $ of merchandise that had cost $ to customers who used their Zisa cards. Zisa charges a fee.
June Sold $ of merchandise that had cost $ to customers who used their Access cards. Access charges a fee.
June Sold $ of merchandise that had cost $ to customers who used their Access cards. Access charges a fee.
June Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $ balance in McKees account was from a credit sale last year.
June Received Morriss check in full payment for the June purchase.
Required:
Prepare journal entries to record the preceding transactions and events.
Sold $ of merchandise on credit to Natara Morris, terms n
Record cost of goods sold, $
Sold $ of merchandise to customers who used their Zisa cards. Zisa charges a fee
Record cost of goods sold, $
Sold $ of merchandise to customers who used their Access cards. Access charges a fee.
Record cost of goods sold, $
Sold $ of merchandise to customers who used their Access cards. Access charges a fee.
Record cost of goods sold, $
Wrote off the account of Abigail McKee against the Allowance for Doubtful Accounts. The $ balance in McKees account was from a credit sale last year.
Received Morriss check in full payment for the June purchase
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