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Use a tabular summary to record the following transactions for Vaughn Manufacturing (Omit cost of goods sold entries.) (a) On July 1, Vaughn Manufacturing sold
Use a tabular summary to record the following transactions for Vaughn Manufacturing (Omit cost of goods sold entries.) (a) On July 1, Vaughn Manufacturing sold merchandise on account to Stacey Inc. for $22,600. (b) On July 8, Stacey Inc. returned merchandise worth $2,500 to Vaughn Manufacturing. (c) On July 11. Stacey Inc. paid for the merchandise. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) Assets Liabilities + Stockholders' Equity Retained Earnings Cash Accts. Rec. Common Stock Rev. Exp. (a) July 1 $ $ $ $ $ (b) 8 (c) 11
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