Question 1

Record the following transactions on the books of Oriole Company (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a)		On July 1, Oriole Company sold merchandise on account to Stacey Inc. for $22,700, terms 4/10, n/30.
(b)		On July 8, Stacey Inc. returned merchandise worth $2,200 to Oriole Company.
(c)		On July 11, Stacey Inc. paid for the merchandise.

No.	Date	Account Titles and Explanation	Debit	Credit
(a)	July 1July 8July 11
(b)	July 1July 8July 11
(c)	July 11