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Record the transactions of fashion park in a general

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Question 1: Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 6 percent sales tax on all sales. The company uses the perpetual inventory system. (Round your intermediate calculations and final answers to the nearest whole dollar value.)

DATE TRANSACTIONS 2019

Point 1: April 2 Sold merchandise for cash, $2,630 plus sales tax.

Point 2: The cost of merchandise sold was $1,630.

Point 3: 3 The customer purchasing merchandise for cash on April 2 returned $315 of the merchandise; provided a cash refund to the customer. The cost of returned merchandise was $215.

Point 4: 4 Sold merchandise on credit to Jordan Clark; issued Sales Slip 908 for $1,180 plus tax, terms n/30.

Point 5: The cost of the merchandise sold was $695.

Point 6: 6 Accepted return of merchandise from Jordan Clark; issued Credit Memorandum 302 for $215 plus tax.

Point 7: The original sale was made on Sales Slip 908 of April 4. The cost of returned merchandise was $220.

Point 8: 30 Received payment on account from Jordan Clark in payment of her purchase of April 4, less the return on April 6.

Reference no: EM132469314

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