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please give the entries according to the space given Prepare the journal entries to record the following sales transactions in Whispering Winds Corp's books. Whispering
please give the entries according to the space given
Prepare the journal entries to record the following sales transactions in Whispering Winds Corp's books. Whispering Winds uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts) Jan 2 5 Whispering Winds sold $ 56,000 of goods to Xtra Inc, terms w/45, FOB destination. The cost of the goods sold was s 31,360 Whispering Winds expected areturn rate of 15% The appropriate company paid freight costs of $ 1,120. Xtra returned $ 6,800 of the merchandise purchased from Whispering Winds on January 2, because it was not riented. The cost of the merchandise returned was $ 3.808, and it was restored to inventory Whispering Winds received the balance due from Xtra. 6 11 Date Account Titles and Explanation Debit Credit Jan 2 ace Lle Account Titles and Explanation Jan. 2 Debit acc Credit (To record credit sale) 2 (To record cost of goods sold) 5 5 6 (To record return of goods) 6 (To record cost of goods returned) 11 LUCU Juods returned) 11 Step by Step Solution
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