Ceres computer sales uses the perpetual inventory system and had the following transactions during December. Answers will vary.
Dec. 1 Ceres SOLD merchandise to ABC Inc. on credit for $8000 terms 2/15 n/45. The items sold had a cost of $2500.
Dec. 6 Ceres PURCHASED merchandise from Jones Inc. on credit for $5000 terms 2/10 n/30.
Dec. 7 ABC Inc. returned $800 of goods purchased on Dec 1. (original cost of the goods to ABC is $250).
Dec. 11 ABC Inc. pays amount owed from purchase on Dec. 1 (within discount period).
Dec. 12 Ceres receives an allowance of $300 for goods purchased on Dec. 6.
Dec. 14 Ceres pays for goods purchased on Dec. 6 (within discount period).
What would the general journal entries look like for this transactions?