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Sored Help Saved CH Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to
Sored Help Saved CH Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues. July 12 Sold merchandise to customer at factory store who charged the $400 purchase on her American txpress card. American Express charges a 1 percent credit card fee. Cost of goods sold was $275. July 15 sold merchandise to customer T at an invoice price of $4,400; terms 2/10, n/30. Cost of goods sold was $2,200. July 21 Before paying for the order, a customer returned shoes with an invoice price of $1,300; cost of goods sold was $780. Complete the following table by entering the amounts of the effects of each transaction, including the related cost of goods sold. (Indicate decreases with a minus sign.) ces Transaction July 12 July 15 July 20 Suly 21 Net Sales Cost of Goods Sold 400 275 4400 2,200 B6 1,300 780 Gross Profit 675 6,800 86 520
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