. Presented here are selected transactions for Norris Company during July. Norris uses the perpetual inventory system (10 points).

July 1 Sold merchandise to Jones Company for $1000, terms 2/10, n/30. The merchandise sold had a cost of $750.

6 Granted $80 credit to Jones Company for the return of merchandise costing $60.

9. Received payment in full from Jones Company on what they owe for July 1 (Less Discount and 7/6 Credit).

11 Purchased merchandise from Sams Corporation for $5,000, terms 1/10, n/30.

19 Paid Sams Corporation what is owed from July 11th purchase. (Less Discount)

Instructions

Journalize the July transactions for Norris Company. You can the journal template provided in the instructions. (10 points)