on june 8 rst company returned merchandise costing 200

Reference no: EM13603617

Merchandise sales journal entries: two sales. Journalize the following entries:

a. On June 4, LMN Company sold merchandise costing $1,000 for a sales price of $1,800 to RST Company, terms 1/10, n/30.

b. On June 6, LMN Company sold merchandise costing $300 for a sales price of $560 to HIJ Company, terms 1/10, n/30.

c. On June 8, RST Company returned merchandise costing $200 with a sales price of $360 for a credit on its account. Merchandise was put back into inventory.

d. On June 13, RST Company paid their account in full.

e. On July 5, HIJ Company paid their account in full.

f. Compute the following based on the two sales above:Net Sales =

Reference no: EM13603617

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