please answer all with working Sales TransactionsJournalize the following merchandise transactions:a. Sold merchandise on account, $9,100 with terms 1/10, n/30. The cost of the merchandise sold was $5,460.SaleCostb. Received payment less the discount.c. Issued a credit memo for returned merchandise that was sold for $10,700 terms n/30. The cost of the merchandise returned was $6,420.RefundInventory4 Transactions for Buyer and SellerWilmington Co. sold merchandise to Angelleti Co. on account, $8,000, terms 2/15, n/30. The cost of merchandise sold is $4,800. Assume alldiscounts are taken.Journalize Wilmington Co.'s entries for (a) the sale on account and (b) the collection of the amount due.(a)(b)0 0 0 0.00:00Journalize Angelleti Co.'s entries for (a) the purchase of merchandise on account and (b) the payment of the amount due.(a)(b)

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Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $9,100 with terms 1/10, n/30. The cost of the merchandise sold was $5,460. Sale Cost b. Received payment less the discount. c. Issued a credit memo for returned merchandise that was sold for $10,700 terms n/30. The cost of the merchandise returned was $6,420 Refund Inventory

Sales Transactions Journalize the following merchandise transactions: a. Sold merchandise on account, $9,100 with terms 1/10, n/30. The cost of the merchandise sold was $5,460. Sale Cost b. Received payment less the discount. c. Issued a credit memo for returned merchandise that was sold for $10,700 terms n/30. The cost of the merchandise returned was $6,420 Refund Inventory

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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