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QS 5-11Sale of merchandise: allowance-perpetual LO3 Journalize each of the following transactions assuming a perpetual inventory system. Oct. 15 Sold merchandise to Leslie Garth for
QS 5-11Sale of merchandise: allowance-perpetual LO3 Journalize each of the following transactions assuming a perpetual inventory system. Oct. 15 Sold merchandise to Leslie Garth for $900 (Cost of sales $600); terms 1/5./20. 16 issued a $100 credit memo to Leslie Garth regarding an allowance on the October 15 sale. 25 Collected the amount owing regarding the October 15 sale to Leslie Garth, less the allowance granted on October 16
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