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Simpson Ladies Clothing Inc. sells $340,000 of women's sportswear to the Bay under credit terms of 1/10, net/30 on August 1, 2017. Simpson Ladies Clothing's

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Simpson Ladies Clothing Inc. sells $340,000 of women's sportswear to the Bay under credit terms of 1/10, net/30 on August 1, 2017. Simpson Ladies Clothing's cost of the goods is $80,000. and Simpson Ladles Clothing receives the appropriate amount of cash from the Bay or August 10. 2017. Assume Simpson Ladies Clothing Inc. uses the perpetual inventory system. Journalize Simpson Ladies Clothing's transactions for August 1. 2017, and August 10. 2017. Journalize Simpson Ladies Clothing's sale

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