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Review the following transactions: i (Click the icon to view the transactions.) Requirements 1. 2. Prepare headings for a sales journal. Journalize the transactions that
Review the following transactions: i (Click the icon to view the transactions.) Requirements 1. 2. Prepare headings for a sales journal. Journalize the transactions that should be recorded in the sales journal. Assume the company uses the perpetual inventory system. Total each column of the sales journal. Requirements 1 & 2. Prepare headings for a sales journal. Journalize the transactions that should be recorded in the sales journal. (Round the sales discount to a whole dollar.) Assume the company uses the perpetual inventory system. Total each column of the sales journal. (If a box is not used in the journal leave the box empty; do not select information and do not enter a zero. Abbreviation used: Inv. = Invoice.) Sales Journal Post. Ref. Page 1 More info Feb. 1 Sold merchandise inventory on account, terms n/30, to Clara Co., $1,075. Cost of goods, $830. Invoice no. 401. Feb. 6 Feb. 12 Collected interest revenue of $140. Sold merchandise inventory for cash, $910 (cost, $670). Feb. 15 Received cash from Clara Co. in full settlement of its account receivable. Feb. 20 Sold merchandise inventory on account, terms n/30, to Delia Co., issuing invoice no. 402 for $700 (cost, $525). Feb. 22 Sold merchandise inventory for cash, $630 (cost $420). Feb. 26 Sold office supplies to an employee for cash of $160. Feb. 28 Received $700 from Delia Co. in full settlement of its account receivable
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