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please help with joural entries thru sep.30 Sep. 8: Sold merchandise inventory to Herrick Company, $5,900, on account. Terms 3/15,n/35. Cost of goods, $2,537. Begin

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image text in transcribed please help with joural entries thru sep.30
image text in transcribed
image text in transcribed
Sep. 8: Sold merchandise inventory to Herrick Company, $5,900, on account. Terms 3/15,n/35. Cost of goods, $2,537. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Journalize the following transactions that occurred in September 2018 for Oceanic, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Oceanic estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from joumal entries. Assume the company records sales at the net amount.) More info ahead and prepare the entry

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