Recording a Retailer's Sales Transactions Mark as done Opened: Sunday, October 29, 2023, 12:00 AM Due: Sunday, November 5, 2023, 11:59 PM Example from e-book Record the journal entries for the following sales transactions of a retailer. May 10 Sold $8,600 of merchandise on credit (cost of $2,650), with terms 5/10, n/30, and invoice dated May 10. May 13 The customer returned $1,250 worth of slightly damaged merchandise to the retailer and received a full refund. The retailer returned the merchandise to its inventory at a c

ost of $380. May 15 The customer discovered some merchandise were the wrong color and received an allowance from the retailer of $230. May 20 The customer paid the account in full, less the return and allowance.

Recording a Retailer's Sales Transactions Opened: Sunday, October 29, 2023, 12:00 AM Due: Sunday, November 5, 2023, 11:59 PM Example from e-book Record the journal entries for the following sales transactions of a retailer. May 10 Sold $8,600 of merchandise on credit (cost of $2,650 ), with terms 5/10,n/30, and invoice dated May 10 . May 13 The customer returned $1,250 worth of slightly damaged merchandise to the retailer and received a full refund. The retailer returned the merchandise to its inventory at a cost of $380. May 15 The customer discovered some merchandise were the wrong color and received an allowance from the retailer of $230. May 20 The customer paid the account in full, less the return and allowance. Submission status