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Please use net method. The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid the
Please use net method.
The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid the $1,000 purchase with cash. The goods cost Evergreen Company $600. 15 Sold merchandise to Claudio's Chair Company at a selling price of $5,000 on terms 3/10, n/30. The goods cost Evergreen Company $3,500. 16 Sold merchandise to Otto's Ottomans at a selling price of $3,000 on terms 3/10, n/30. The goods cost Evergreen Company $1,900. 23 Received cash from Claudio's Chair Company for the amount due from July 15. 31 Received cash from Otto's Ottomans for the amount due from July 16. Required: Prepare journal entries to record the transactions, assuming Evergreen Company records discounts using the net method in a perpetual inventory system. Forfeited discounts are recorded as Other Revenue. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Record the cost of goods sold to Claudio's Chair Company at $3,500. Note: Enter debits before credits. Date General Journal Debit Credit July 15
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