Sold $100 of merchandise to Lanning Co., which paid by credit card. The credit card company charges Keefe a fee of 1% on credit card sales. Keefe's cost of this merchandise was $75.Do not record the cost of goods sold entry yet. We will do that in the next step.

More info More info November 3 Sold $250 of merchandise to Meador's Inc., which paid for the items in cash. The items cost Keefe $60. November 5 Sold $100 of merchandise to Lanning Co., which paid by credit card. The credit card company charges Keefe a fee of 1% on credit card sales. Keefe's cost of this merchandise was $75. November 10 Sold $1,500 of merchandise to Woolley Creek on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $650. November 11 Sold $1,600 of merchandise to Ample Shoppes on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $1,360. November 12 Sold $870 of merchandise to Bardot Ridge Inc., on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $348. November 18 Woolley Creek reported that some of the merchandise received was in a different color than ordered so it returned $180 of the merchandise. The cost to Keefe was $72. November 20 Ample Shoppes paid the balance of what it owed for the purchase on November 11. November 22 Bardot Ridge inc., retumed $170 of the merchandise for a refund. Keefe's cost of the retumed merchandise was $68. November 22 Bardot Ridge Inc., paid the remaining balance owed for the purchase on November 12 . November 23 Sold $5,200 of merchandise to Coventry Co. on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $2.080. November 5: Sold $100 of merchandise to Lanning Co., which paid by credit card. The credit card company charges Keefe a fee of 1% on credit card sales. Keefe's cost of this merchandise was S75. Do not record the cost of goods sold entry yet. We will do that in the next step. More info More info November 3 Sold $250 of merchandise to Meador's Inc., which paid for the items in cash. The items cost Keefe $60. November 5 Sold $100 of merchandise to Lanning Co., which paid by credit card. The credit card company charges Keefe a fee of 1% on credit card sales. Keefe's cost of this merchandise was $75. November 10 Sold $1,500 of merchandise to Woolley Creek on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $650. November 11 Sold $1,600 of merchandise to Ample Shoppes on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $1,360. November 12 Sold $870 of merchandise to Bardot Ridge Inc., on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $348. November 18 Woolley Creek reported that some of the merchandise received was in a different color than ordered so it returned $180 of the merchandise. The cost to Keefe was $72. November 20 Ample Shoppes paid the balance of what it owed for the purchase on November 11. November 22 Bardot Ridge inc., retumed $170 of the merchandise for a refund. Keefe's cost of the retumed merchandise was $68. November 22 Bardot Ridge Inc., paid the remaining balance owed for the purchase on November 12 . November 23 Sold $5,200 of merchandise to Coventry Co. on account. Terms were 3/10, net 30 . Keefe's cost of this merchandise was $2.080. November 5: Sold $100 of merchandise to Lanning Co., which paid by credit card. The credit card company charges Keefe a fee of 1% on credit card sales. Keefe's cost of this merchandise was S75. Do not record the cost of goods sold entry yet. We will do that in the next step