Journalize the following transactions of moonraker sales

Reference no: EM13603600

Journalize the following transactions of Moonraker Sales, assuming the company uses the perpetual method. Don't forget to include explanation: July 3- purchased $1000 of inventory with terms 2/10, n/eom. 7- returned $300 of defective merchandise purchased on july 3. 9- paid freight bill of $110 on the july 3 purchase. 10- sold inventory for $2200 collecting cash of $400 payment terms on the remainder were 2/15, n/30 these goods cost moonraker sales 1300. 12- paid the amount owed on credit purchase on july 3 less the discount and the return. 16- granted a sales allowance(reduction of the original sales price bc of some slight defect) of 800 on july 10. 23- received cash from the july 10 customer in full settlement of the debt less the allowance and the discount.

Reference no: EM13603600

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