Sales$-$Related Transactions

Showcase Co$.,$ a furniture wholesaler, sells merchandise to Balboa Co$.$ on account, $$254,500,$ terms n$/30.$ The cost of the goods sold is $$152,700.$ Showcase Co$.$ issues a credit memo for $$30,000$ for merchandise returned prior to Balboa Co$.$ paying the original invoice. The cost of the merchandise returned is $$17,500.$

Question Content Area

a$.$ Journalize Showcase Co$.$s entries for $(1)$ the sale, including $(2)$ the cost of the goods sold. If an amount box does not require an entry, leave it blank.

$(1)$

$(2)$

Question Content Area

b$.$ Journalize Showcase Co$.$s entries for $(1)$ the credit memo, including $(2)$ the cost of the returned merchandise. If an amount box does not require an entry, leave it blank.

$(1)$

$(2)$

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c$.$ Journalize Showcase Co$.$s entry for the receipt of the check for the amount due from Balboa Co$.$ If an amount box does not require an entry, leave it blank.

blank

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