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On March 18, Big Jay Corporation sold 40 pairs of socks to a KU student organization for $5 per pair for an event the organization

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On March 18, Big Jay Corporation sold 40 pairs of socks to a KU student organization for $5 per pair for an event the organization was hosting the next day. The sale was made on account. Use the following detalls to record the sales transaction for Big Jay. Assume Big Jay uses a perpetual inventory system and the cost per unit is $2. - When the student organization leaders were setting up for their event, they noticed that the Jayhawk logo was crooked on 4 of the socks. They called Big Jay and negotated a 20% sales allowance on those pairs (\$4 total). - The student organization actually only needed 32 pairs for its event, so it retumed the remaining 8 pairs to Big Jay on March 20 . None of these 8 pairs of socks had a crooked logo

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