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Journalize the following transactions assuming the perpetual inventory system:
Collaboration been commonly touted as a solution for many business problems. In
September 15, 2020JWS Transport Companys employees earn vacation time at the rate of 1 hour per
September 15, 2020Journalize the following transactions assuming the perpetual inventory system:
July 3
Sold merchandise on account $3750. The cost of the merchandise sold was $2000.
July 5
Issued credit memo for $1050 for merchandise returned from sale on July 3rd.
The cost of the merchandise returned was $610.
July 12
Received check for the amount due for sale on July 3rd less return on July 5th.
July 17
Sold merchandise for $7000 plus 6% sales tax to cash customers. The cost of the merchandise
sold was $3830.
Journal
Date
Description
Post Ref
Debit
Credit
