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Question - Record the following transactions in the general journal for the Cappadocio Appliance Company, which uses the perpetual inventory system.
June 2 Sold 100 toaster ovens to Carol Greenberg for $8,000 on account. Credit terms: n/30. Cost of each toaster oven to the business was $50.
June 5 Cash sales of 50 toaster ovens amounted to $4,000. Cost of each toaster oven to the business was $50.
June 8 Issued Credit Memorandum No. 83 for $400 to Carol Greenberg as an adjustment on 5 damaged units purchased and returned by her on June 2. Cost of each toaster oven to the business was $50.
June 15 Received a cheque from Carol Greenberg in full payment of her account less damage allowance.
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