On March 15, Monroe Sales sells $9,525 on account to Garrison Brewer with terms of 2/10, n/30. The cost of merchandise sold was $6,905. (a) Journalize the sale and the recognition of the cost of the sale. If required, round your answers to two decimal places. (b) On March 20, a $125 credit memo is given to Garrison Brewer due to merchandise that was the wrong color. Journalize this event. The cost of the returned merchandise was $65. If required, round your answers to two decimal places. (c) On March 25, Garrison Brewer submits payment in full. Journalize this event. If required, round your answers to two decimal places.
On March 15, Monroe Sales sells $9,525 on account to Garrison Brewer with terms of 2/10, n/30. The cost of merchandise sold was $6,905.
(a) Journalize the sale and the recognition of the cost of the sale. If required, round your answers to two decimal places.
(b) On March 20, a $125 credit memo is given to Garrison Brewer due to merchandise that was the wrong color. Journalize this event. The cost of the returned merchandise was $65. If required, round your answers to two decimal places.
(c) On March 25, Garrison Brewer submits payment in full. Journalize this event. If required, round your answers to two decimal places.
Hint: You may not need to fill in every box
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