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RH Company sells beverage supplies. The RH has a return policy of 10 days from the date of sale and uses the perpetual inventory system.
RH Company sells beverage supplies. The RH has a return policy of 10 days from the date of sale and uses the perpetual inventory system. The following transactions occurred during the month of January Jan 4 Sold merchandise for S 800 on account to JJ Coffee, terms 2/10, n/30. The original cost of the merchandise to RH was $ 300. 8 JJ Coffee returned goods with a selling price of S 100 and a cost of S 38. The goods are restored to inventory. 14 Received the correct payment from JJ Coffee. Instructions Prepare journal entries to record the transactions for RH Company
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