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carmen is a wholesaler of football supplies. On April 6, carmen sells 60 football gloves. The...

carmen is a wholesaler of football supplies. On April 6, carmen sells 60 football gloves. The gloves were acquired at a cost of $30 each. They were sold to a customer on account for $50 each. The customer paid for the gloves on May 4. Record carmens journal entries related to the sale of the gloves and, then, the journal entry for the receipt of cash.

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Answer #1
Apr 6 Accounts Receivable 3000
Sales (60*50) 3000
Apr 6 Cost of Goods Sold 1800
Inventory (60*30) 1800
May 4 Cash 3000
Accounts Receivable 3000

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