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Please complete the transactions for QS4-8 and prepare a multi-step income statement Prepare journal entries to record each of the following sales transactions of a
Please complete the transactions for QS4-8 and prepare a multi-step income statement
Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apr. 1 Sold merchandise for $3,000, with credit terms n/30; invoice dated April 1. The cost of the 4 The customer in the April 1 sale returned $300 of merchandise for full credit. The merchandise, 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30; invoice dated April 8. Cost of 11 Received payment for the amount due from the April 1 sale less the return on April 4 merchandise is $1,800. which had cost $180, is returned to inventory. the merchandise is $700
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