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The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid the $3,000 purchase with cash.
The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid the $3,000 purchase with cash. The goods cost Evergreen Company $1,600. 15 Sold merchandise to claudio's Chair Company at a selling price of $9,000 on terms 3/10, n/30. The goods cost Evergreen Company $5,500. 16 Sold merchandise to Otto's Ottomans at a selling price of $5,000 on terms 3/10, n/30. The goods cost Evergreen Company $2,900. 23 Received cash from Claudio's Chair Company for the amount due from July 15. 31 Received cash from Otto's Ottomans for the amount due from July 16. Required: Prepare journal entries to record the transactions, assuming Evergreen Company records discounts using the gross method in a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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