Business, 06.07.2021 15:40 kaylarose7658

Vintage World uses a perpetual inventory system. Journalize the following sales transactions for Vintage World. Explanations are not required. The company estimates sales returns at the end of each month. Jan. 4 Sold $15,000 of antiques on account, credit terms are n/30. Cost of goods is $7,500.
8 Received a 100 sales return on damaged goods from the customer. Cost of goods damaged is $50.
13 Vintage World received payment from the customer on the amount due from Jan.4, less the return.
20 Sold $5,200 of antiques on account, credit terms are 22/10, n/45, FOB destination. Cost of goods is $2,600.
20 Vintage World paid$90 on freight out.
29 Received payment from the customer on the amount due from Jan20, less the discount.

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Vintage World uses a perpetual inventory system. Journalize the following sales transactions for Vin...

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