3 A company uses the perpetual inventory system and the

Last updated: 1/21/2024

3 A company uses the perpetual inventory system and the gross method of accounting for sales and had the following sales transactions during June 01 27 10 June 2 Sold merchandise to a customer on credit for 8 000 terms 1 15 n 60 The items sold had a cost of 4 300 June 4 The customer from June 2 returned merchandise that had a selling price of 400 The cost of the merchandise returned was 270 June 15 The customer paid for the merchandise sold on June 2 less the return and taking any available discount Prepare journal entries to record these transactions View transaction list Journal entry worksheet 1 2 3 4 5 Sold merchandise to a customer on credit for 8 000 terms 1 15 n 60