On September 13, Brady Company sold merchandise with an invoice price of $1,100 ($600 cost), with terms of 2 10, n 30, to Dalton Company On September 17, $250 of the merchandise ($100 cost) was returned because it was the wrong model On September 23, Brady Company received a check for the amount due from Dalton Company Required Prepare the journal entries made by Brady Company for these transactions Brady uses the perpetual inventory system Round your answers to the nearest dollar General Journal Date Description Debit Credit Sept 13 Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Sold merchandise to Dalton Company terms 2 10, n 30 13 Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Cost of merchandise sold to Dalton Company 17 Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Merchandise returned by Dalton Company 17 Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Cost of merchandise returned by Dalton Company 23 Cash Answer Answer Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Answer Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue Answer Answer Remittance received from Dalton Company

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Posted on Sep 14, 2024

On September 13, Brady Company sold merchandise with an invoice price of $1,100 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September

On September 13, Brady Company sold merchandise with an invoice price of $1,100 ($600 cost), with terms of 2/10, n/30, to Dalton Company. On September 17, $250 of the merchandise ($100 cost) was returned because it was the wrong model. On September 23, Brady Company received a check for the amount due from Dalton Company.

Required Prepare the journal entries made by Brady Company for these transactions. Brady uses the perpetual inventory system. Round your answers to the nearest dollar.

General Journal
Date		Description	Debit	Credit
Sept.	13	Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Sold merchandise to Dalton Company terms 2/10, n/30.
	13	Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Cost of merchandise sold to Dalton Company.
	17	Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Merchandise returned by Dalton Company.
	17	Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Cost of merchandise returned by Dalton Company.
	23	Cash	Answer	Answer
		Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Answer: Accounts ReceivableCashCost of Goods SoldInventorySales DiscountsSales Returns and AllowancesSales Revenue	Answer	Answer
		Remittance received from Dalton Company.