1. Your company received an order on May 5^th 20 can of soup at $ 00 per can. Your cost is $0.50 per can. What is the appropriate journal entry to record the transaction?
2. Your company issued an invoice dated on May 5^th for 20 can of soup at $ 1.00 per can. Your cost is $0.50 per can. Sales tax was charged at the rate of 10%. Freight cost totaled $5.00 and is not taxable. What is the appropriate journal entry for this transaction?
3. A customer return 5 cans of soup on May 10, 2020. your company sold the soup to this customer on May 4^th 2020 at a cost of $ 1.00 per can. You charged sales tax a rate of 10% and your cost to purchase the soup was 0.50 per can . what is the underlying journal entry to record the credit note?