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 dispilayed 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. 0. Sold merchandise for cash (cost of merchandise $180, ere) - b. Received merchandise returned by customers as unsatisfactory (but. in perfiect candition) for cash refund (original cost of merchandise s6se). c. Sold nerchandise (Costing $10, 8ee) to a custoner on occount with terns a/3e. d. Collected half of the balance ound by the custoner in (c). c. Granted a poctial allowance relating to credit sales the custoeer in (c) had not yet pald. f. Anticipate further returns of merchandsse (costing 5240 ) after month-end from sales nade durfing the nooth. 530,000 1,600 24,000 12,000 1,500 900 CP6-3 (Algo) Part 3 3. Prepare joumal entries to record transactions (a) 10 (f). (If no entry is required for o transoction/event, select "No Journol Entry Required" in the first occount field.) Journal entry worksheet Antidpate further returns of merchandise after year-end from 5900 sales made during the year. Record the entry. Wote: Enter debits before wests. Required informotion 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: a. Sold merchandise for cash (cost of nerchundise \$1Bo, ore): (oritinal cost of merchandise s6ae). c. Sold merchandise (costing $10,500 ) to a custoent on account with terns a/se. d. Collected half of the balance oved by the custoner in (c). e. Granted a partial allowance relating to credit sales the custoner in (c) had not yet pald. f. Antlelpate further returns of merchandise (casting \$240) after month (C) had froe sales made durling the month. CP6-3 (Algo) Part 3 3. Prepare joumal entries to record transactions (d) to (h) (if no entry is required for o trensoction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet 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: a. Sold serchandise for cash (cost of nerchandise $180,070 ). b. Received merchandise returned by custoeers as unsatisfactory (but in perfect condition) for cash refund (orighal cost of merchandise s6te). c. Sold merchandise (costling $10,609 ) to e custoner on account with terns n/3 s. d. Collected half of the balance oved by the custooer in (c). c. Granted a partial allowance relating to credit sales the custoner in (c) had not yet paid. f. Anticlpate further returns of nerchendise (costing \$240) after month-end froe soles wade during the month. 5330,0001,66024,00012,0001,500 sen P6-3 (Algo) Part 3 Prepare journal entries to record transactions (d) to (t). (If no entry is required for o tronsoction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet favel finter debta before aredits. 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 (summanized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $s80, eve). b. Recelved merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $680 ). c. Sold merchandise (costing $10,86e ) to a customer on account with terms n/3e. d. Collected half of the balance owed by the custoner in (c). e. Granted a partial allowance relating to credit sales the custoner In (c) had not yet paid. f. Anticipate further returns of merchandise (costing 524e) after month-end from sales made during the month. CP6-3 (Algo) Port 3 3. Prepare journal entries to record transactions (d) to (f) (If no entry is required for o tronsoction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Note Enter debata before eredits. 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: a. Sold eerchandise for cash-(cost of merchandise $100,070). b. Received merchandise returned by custosers as unsatisfactory (but in perfect condicion) for cash refund (original cost of merchandise $680 ). c. Sold merchandise (costing $10,800 ) to a custoner on account with terms n/30. d. Collected half of the balance owed by the custoeer in (c). e. Granted a partlal allowance relating to credit sales the custoner in (c) had not yet paid. f. Anticlpate further returns of merchandise (costing \$240) after month-end from sales made during the month. 5330,000 1,sen 24,000 12, eee 1,500 900 CP6-3 (Algo) Part 3 3. Prepare journal entries to record transactions (a) to (f). (if no entry is required for o transoction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet \( \begin{tabular}{llll|lllllll} \langle \) & 1 & 2 & 3 & 5 & 6 & 7 & 8 & 9 & 10 \end{tabular} The merchandise returned had a cost of 5680 . Record the entry. Note: Eniter debits before oredits. 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 displinged 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: a. Sold merchandise for cash (cost of nerchandise $100, e7e). b. Recelved merchandise returned by custoners as unsatistactory (bot in perfect condition) for cash-refund (orfiginal cost of merchandise jbse). c. Sold merchandise (costing $10,800 ) to a custener on account with teras n/32. d. Collected half of the balance ontd by the customer in (c). e. Granted a partial allowance relating to credit sales the custeaner in (c) had not yet paid. f. Anticipate further returns of nerchandise (costing 5240 ) after sonth end froe sales made during the month. 5. 330,000 P6-3 (Algo) Port 3 Prepare joumal entries to record transactions (a) to (f) af no entry is required for o transoction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Granted a partial $1,500 allowance relating to credit ales the customer in transaction chad not yet paid. Record the entry. Noter tontr dehits before credits. 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: a. Sold merchandise for cash (cost of merchandise $180, epre). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cast of nerchandise \$68e). c. Sold merchandise (costing $10,80e ) to a customer on account with terns n/30. d. Collected half of the balance oured by the custoner in (c). c. Granted a partial allowance relating to credit sales the custcoer in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $240 ) after month-end fron sales made during the month. $330,090 CP6-3 (Algo) Port 3 Prepare journal entries to record transactions (a) to (f), (If no entry is required for o vansoction/event, select "No Journol Entry Required" in the first occount field.) Journal entry worksheet Collected half of the $24,000 balance owed by the customer in transaction c. Record the entry. Notel Enter debits before credits. 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: a. Sold merchandise for cash (cost of nerchandise \$18a, eve). b. Recelved erchandise returned by customers as unsatisfiactory (but in perfect condition) for cash refund. (original cost of merchandise $689 ). c. Sold merchandise (costing $10,800 ) to a customen on account with terns N/30. d. Collected half of the balance oned by the custoner in (c). c. Granted a partial allowance relating to credit sales the custoes in (c) had not yet paid. f. Anticipate further returns of merchandise (costing $248 ) aften santh-end fron sales malle durling the month. 5. 330,000 1, 500 24,000 12,000 1, 500 900 EP6-3 (Algo) Part 3 Prepare joumal entries to record transactions (d) to (f). (if no entry is required for o transaction/event, select "No Journol Entry Required" in the first account field.) Journal entry worksheet The merchandise sold had a cost of $10,800. Record the entry. Nuter Enter debits befare credits. 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 disployed 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. a. Sold eerchandise for cash (cost of merchandise 5180,070 ). b. Recefved merchandise returned by custoeers as unsatisfactory (but in perfect conultilon) for cash refund (original cost of erehand {ses600 ). c. Sold inerchandise (costing $10,300 ) to a customer an account with terms n/30. d. Collected half of the balance owed by the custoner in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet peid. f. Anticlpate further returbs of merchandise (costing 5240 ) after sonth-end from sales aade daring the month. 5. 330,000 24,000 12;000 1,500 CP6-3 (Algo) Part 3 Prepare journal entries to record transactions (a) to (i) (if no entry is required for a transoction/event, select "No Journol Entry Required" in the first occount field.) Journal entry worksheet Recelved merchandise returned by customers as unsatisfactory (but in perfect: condition) for $1,600 cash refund. Record the entry. Hote Enter deber belore credits. 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: a. Sold merchandise for cash (cost of merchandise $130,070). b. Recelved merchandise returned by custconers as unsatisfectory (but in perfect condition) for cash-refund (original cost of merchandise $680 ). c. Sold merchandise (costing $10,800 ) to a custoner on account with terms n/30. d. Collected half of the balance owed by the custoner in (c). c. Granted a partial allowance relating to credit sales the custoser in (c) had not yet paid. f. Anticipate further returns of nerchandise (costing $2.40 ) after month-end from sales aste doring the month. \$ 33e,eop 1,600 24,000 12,000 1,506 900 CP6-3 (Algo) Part 3 3. Prepare journal entries to record transactions (a) to (f) (if no entry is required for o transaction/event, select "No Journol Entry Required" in the first occount field.) Journal entry worksheet Notel Enter debits before credits