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picture can adjust it but this full equation 1. (50 points) Serene Spa Sales uses the perpetual inventory system and the gross method of accounting

picture can adjust it but this full equation

image text in transcribed 1. (50 points) Serene Spa Sales uses the perpetual inventory system and the gross method of accounting for purchases and sales, and had the following transactions during August. Sold merchandise on credit for $5,000, terms 3/10, n/30. The items sold Aug 1 had a cost of $3,500. Purchased merchandise for cash, $2,720. 4 Purchased merchandise on credit for $2,600, terms 1/20, n/30. Issued a credit memorandum for $3,000 to a customer who returned 5 merchandise purchased July 20. The returned items had a cost of $2,010. 10 Received payment for merchandise sold August 1. Received a credit memorandum from the seller for the return of 15 defective merchandise purchased on August 4 for $600. Paid freight charges of $200 for merchandise ordered last month. (FOB 18 shipping point) 23 Paid for the merchandise purchased August 4 less the portion that was returned. 24 Sold merchandise on credit for $7,000, terms 2/10, n/30. The items had a cost of $4,900. 31 Received payment for merchandise sold on August 24. transactions. Required: using the general journal below, prepare the general journal

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