The following selected transactions occurred at Carman Variety Store during the month of November: (Click the icon to view the Read the requirements. More info the gross method to record the sales transactions. Record debits first, ther Do not record the cost of goods sold entry yet. We will do that in the next More info Accounts Receivable $4,600 Allowance for Uncollectible Accounts $390 credit balance November 3 Sold $200 of merchandise to Manzo's Inc., which paid for the items in cash. The items cost Carman $100. November 5 Sold $900 of merchandise to Laster Co., which paid by credit card. The credit card company charges Carman a fee of 3% on credit card sales. Carman's cost of this merchandise was $100. November 10 Sold $1,000 of merchandise to Watson River on account. Terms were 4/10, net 30. Carman's cost of this merchandise was $550. November 11 Sold $1,900 of merchandise to Ample Shoppes on account. Terms were 4/10, net 30. Carman's cost of this merchandise was $830. November 12 Sold $850 of merchandise to Baltic Light Inc., on account. Terms were 4/10, net 30. Carman's cost of this merchandise was $340. November 18 Watson River reported that some of the merchandise received was in a different color than ordered so it returned $120 of the merchandise. The cost to Carman was $48. November 20 Ample Shoppes paid the balance of what it owed for the purchase on November 11. November 22 Baltic Light Inc., returned $150 of the merchandise for a refund. Carman's cost of the returned merchandise was $60. November 22 Baltic Light Inc., paid the remaining balance owed for the purchase on November 12. November 23 Sold $5,400 of merchandise to Cartwright Co. on account. Terms were 4/10, net 30. Carman's cost of this merchandise was $2,160. November 25 Watson River paid the balance of what it owed for the purchase on November 10. November 26 Discovered that Elmer Enterprises, a customer owing $120 from a July transaction, declared bankruptcy and there is no chance of collection. Wrote off the balance of Elmer's account. November 27 Sold $800 of merchandise to Dennis's One-Stop-Shop on account. Terms were 4/10, net 30. Carman's cost of this merchandise was $240. November 1-30 Sales on account during the month of November for transactions not listed individually totaled $6,700. Cost of goods sold for these sales totaled $2,680. November 1-30 Credit card sales on account during the month of November for transactions not listed individually totaled $2,100. The credit card company charges Carman a fee of 3% on credit card sales. Cost of goods sold for these sales totaled $850. Print Done man Carman Verlety Store had the following balance of November 1: (Click the icon to view the balances) The following selected transactions occurred at Carman Variety Store during the month of November Click the boon to view the transactions.) Read the reguirements Requirement 1. Record Carmaris November transactions, including the cost of goods sold entries for each sale. (Use the grass method to record the sales transactions. Record debits first, then credils. Exclude explanations from any journal entries.) Novermber 3. Sold $200 of merchandise to Manzo's Inc., which paid for the items in cast. The itens cost Carmen S100. Do not record the cost of goods sold entry yet. We will do that in the next step. Journal Entry Date Accounts Debit Credit Nov 3 Now record the cost of goods sold for the sale of merchandise on November 3. Journal Entry Date Accounts Nov 3 Debit Credit | November 5 Sold $900 of merchandise to Laster Co., which paid by credit card. The credit card company charges Carman a fee of 3%, on credit card sales. Carman's cost of this merchandise was $100. Da natoard the cost of goods sod entry yot. We wil do that in the next stop. Joumal Entry Date Accounts Debit Credit Nors 1 Naw record the cost of goats sold for the sale of merchandise an November 5. Joumal Entry Accounts Debit Credit Date Now 5