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Presented below are selected transactions of Pale Force Company. Pale Force sells in large quantities to other companies and also sells its product in a small retail outlet.
March 1
Sold merchandise on account to CC Company for $3,000, terms 2/10, n/30.
3
CC Company returned merchandise worth $500 to Pale Force.
9
Pale Force collected the amount due from CC Company from the March 1 sale.
15
Pale Force sold merchandise for $400 in its retail outlet.The customer used his Pale Force credit card.
31
Pale Force added 1.5% monthly interest to the customer's credit card balance.
Instructions
Prepare journal entries for the transactions.
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