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Presented below are selected transactions of Marigold Company. Marigold sells in large quantities to other companies and also sells its product in a small retail

Presented below are selected transactions of Marigold Company. Marigold sells in large quantities to other companies and also sells its product in a small retail outlet.

March 1

Sold merchandise on account to Dodson Company for $14,000, terms 3/10, n/30.

3

Dodson Company returned merchandise worth $700 to Marigold.

9

Marigold collected the amount due from Dodson Company from the March 1 sale.

15

Marigold sold merchandise for $500 in its retail outlet. The customer used his Marigold credit card.

31

Marigold added 1.20% monthly interest to the customers credit card balance.

Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations.)

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