Homework Answers
| Date | Account titles and explanation | Debit | Credit |
| 15-May | Account receivable | $525 | |
| Transportation - out | $50 | ||
| Sales | $525 | ||
| Cash | $50 | ||
| (being sales made) | |||
| 20-May | Sales returns and allowances | $72 | |
| Account receivable | $72 | ||
| (Being sales return) | |||
| 29-May | Account receivable | $1,050 | |
| Sales | $1,050 | ||
| (Being sales made) | |||
| 30-May | Cash | $1,050 | |
| Account receivable | $1,050 | ||
| (Cash received from customer) | |||
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