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record the journal entries! thank you :) Required information CP6-3 (Algo) Recording Cash Sales, Credit Sales, Estimated and Actual Sales Returns, and Sales Allowances, and
record the journal entries! thank you :)
Required information CP6-3 (Algo) Recording Cash Sales, Credit Sales, Estimated and Actual Sales Returns, and Sales Allowances, and Analyzing Gross Profit Percentage (LO 6-4, LO 6-6) The following information applies to the questions displayed below) Handy Howard's Incorporated, is a student co-op Handy Howard uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis $ 280,500 .. Sold merchandise for cash (cost of merchandise $154,870). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise 5688). c. Sold merchandise (costing $9,180) to a customer on account with terms n/30. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. F. Anticipate further returns of merchandise (costing $204) after month-end from sales made during the month, 1,630 20,400 10,200 1,140 720 CP6-3 (Algo) Part 3 View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 a(1) No Transaction Recorded 3 b(1) No Transaction Recorded c(1) No Transaction Recorded 6 c(2) No Transaction Recorded G 7 d No Transaction Recorded 7 8 No Transaction Recorded 9 f(1) No Transaction Recorded 10 f(2) No Transaction Recorded Step by Step Solution
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