- Record the necessary journal entries.
April 2, Sold merchandise on account to Brown Company for $18,900, 1/10, n/30. The cost of the merchandise sold was $13,300.
April 9, Sold merchandise for cash for $55,400. The cost of the merchandise sold was $33,200
April 8, received check from Brown Company.
April 30, purchased merchandise for cash $90,000.
May 1, sold merchandise on account to Empire Company for $27,500, 2/15, n/30. The cost of the merchandise sold was $16,000.
May 2, Empire returned $2,000 of the merchandise to us. The cost of the merchandise was $650.
May 4, we issued Empire a credit memo for $500 because of a slight defect in one of the items
May 10, we received a check from Empire Company