Record the following transactions on the books of Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)(a) On July 1, Cullumber Co. sold merchandise on account to Stacey Inc. for $23,400, terms 2/10, n/30.(b) On July 8, Stacey Inc. returned merchandise worth $2,400 to Cullumber Co.(c) On July 11, Stacey Inc. paid for the merchandise. DateAccount Titles and ExplanationDebitCreditChoose a transaction date                                                           July 1July 8July 11Enter an account titleEnter a debit amountEnter a credit amountEnter an account titleEnter a debit amountEnter a credit amountChoose a transaction date                                                           July 1July 8July 11Enter an account titleEnter a debit amountEnter a credit amountEnter an account titleEnter a debit amountEnter a credit amountChoose a transaction date                                                           July 1July 8July 11Enter an account titleEnter a debit amountEnter a credit amountEnter an account titleEnter a debit amountEnter a credit amountEnter an account titleEnter a debit amountEnter a credit amount

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Asked Nov 24, 2019
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Record the following transactions on the books of Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(a)   On July 1, Cullumber Co. sold merchandise on account to Stacey Inc. for $23,400, terms 2/10, n/30.
(b)   On July 8, Stacey Inc. returned merchandise worth $2,400 to Cullumber Co.
(c)   On July 11, Stacey Inc. paid for the merchandise.

 

Date
Account Titles and Explanation
Debit
Credit
Choose a transaction date                                                           July 1July 8July 11
Enter an account title
Enter a debit amount
Enter a credit amount
Enter an account title
Enter a debit amount
Enter a credit amount
Choose a transaction date                                                           July 1July 8July 11
Enter an account title
Enter a debit amount
Enter a credit amount
Enter an account title
Enter a debit amount
Enter a credit amount
Choose a transaction date                                                           July 1July 8July 11
Enter an account title
Enter a debit amount
Enter a credit amount
Enter an account title
Enter a debit amount
Enter a credit amount
Enter an account title
Enter a debit amount
Enter a credit amount
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Required journal entries as ...

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Post Debit (S) Ref. Date Description Credit (S) Accounts Receivable July. 1 23400 Sales revenue 23400 (to record the sales on account) Sales returns and allowance Accounts Receivable (to record the goods return by the system) 2400 July. 8 2400

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