Recording sales returns and allowances.
Record the general journal entries for the following transactions of The Mattress Center that occurred in June.
DATE | TRANSACTIONS |
June 7 | Accepted a return of damaged merchandise from Deborah Westgate, a credit customer; issued Credit Memorandum 301 for $324, which includes sales tax of $24; the original sale was made on Sales Slip 1610 of May 31. |
22 | Gave an allowance to Brian Barnett, a credit customer, for merchandise that was slightly damaged but usable; issued Credit Memorandum 121 for $486, which includes sales tax of $36; the original sale was made on Sales Slip 1663 of June 17. |
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