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The following transactions were selected from among those completed by Bear's Retail Store: November 20 Sold two items of merchandise to Cheryl Jahn, who paid

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The following transactions were selected from among those completed by Bear's Retail Store: November 20 Sold two items of merchandise to Cheryl Jahn, who paid the $800 sales price in cash. The goods cost Bear's $500. November 25 Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,800 (total); terms 3/10, n/30. The goods cost Bear's $2,900. November 28 Sold 10 identical items of merchandise to Nancy's Gym at a selling price of $8,000 (total); terms 3/10, n/30. The goods cost Bear's $4,200. November 29 Nancy's Gym returned one of the items purchased on the 28th. The item was in perfect condition and credit was given to the customer on account. No further returns are expected. December 6 Nancy's Gym paid the account balance in full. December 30 Vasko Athletics paid in full for the invoice of November 25. Required: Prepare journal entries to record the transactions, assuming Bear's Retail Store records discounts using the net method in a perpetual inventory system. Forfeited discounts are recorded as Other Revenue. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the sale of merchandise for $800 cash to Cheryl Jahn. 2 Record the cost of goods sold to Cheryl Jahn at $500. 3/10 3 Record the sale of merchandise for $4,800 to Vasko Athletics on terms 3/10, n/30. 4 Record the cost of goods sold to Vasko Athletics at $2,900. 0 5 Record the sale of merchandise for $8,000 to Nancy's Gym on terms 3/10, n/30. 6 Record the cost of goods sold to Nancy's Gym at $4,200. Note : = journal entry has been entered 5 Record the sale of merchandise for $8,000 to Nancy's Gym on terms 3/10, n/30. B Record the cost of goods sold to Nancy's Gym at $4,200. Record the return of goods sold to Nancy's Gym purchased on November 28. 8 Record the cost of goods returned by Nancy's Gym. 0 9 Record the receipt of cash due from Nancy's Gym. 10 Record the receipt of cash due from Vasko Athletics for the invoice of November 25

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