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Rally Auto Supplies uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required. Sold $14,800 of merchandise
Rally Auto Supplies uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required. Sold $14,800 of merchandise on account, credit terms are 3/15, n/30. Cost of June 10 goods is $6,200. June 14 Received a $900 sales return from the customer. Cost of the goods is $400. Rally Auto Supplies receives payment for the customer for the amount due June 23 from the June 10 sale.
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