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Use a tabular summary to record the following transactions for Marigold Corp. (Omit cost of goods sold entries.) (a) On July 1, Marigold Corp. sold
Use a tabular summary to record the following transactions for Marigold Corp. (Omit cost of goods sold entries.) (a) On July 1, Marigold Corp. sold merchandise on account to Stacey Inc. for $24,400. (b) On July 8, Stacey Inc. returned merchandise worth $2,200 to Marigold Corp.. (c) On July 11, Stacey Inc. paid for the merchandise. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets = Liabilities + Stockholders' Equity Retained Earnings Cash + = Common Stock Rev. Exp. Accts. Rec. 24,400 + $ (a) July 1 $ i $ i $ 24,400 $ i Sales revenue o i -2,200 -2,200 (Sales returns & allowances 4) (b) (c) 8 D 11 22,200
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