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The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to Wally Butler, who paid for the $1,000 purchase with
The following transactions were selected from the records of Evergreen Company:
July | 12 | Sold merchandise to Wally Butler, who paid for the $1,000 purchase with cash. The goods cost Evergreen Company $600. | ||
15 | Sold merchandise to Claudios Chair Company at a selling price of $5,000 on terms 3/10, n/30. The goods cost Evergreen Company $3,500. | |||
20 | Sold merchandise to Ottos Ottomans at a selling price of $3,000 on terms 3/10, n/30. The goods cost Evergreen Company $1,900. | |||
23 | Collected payment from Claudios Chair Company from the July 15 sale. | |||
Aug. | 25 | Collected payment from Ottos Ottomans from the July 20 sale. |
Required: Prepare journal entries to record the transactions, assuming Evergreen Company uses 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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