Question

The following transactions were selected from among those completed by Hailey Retailers in the current year:



Nov. 20 Sold two items of merchandise to Customer B, who charged the $450 (total) sales price on her Visa credit card. Visa charges Hailey a 2 percent credit card fee.

25 Sold 14 items of merchandise to Customer C at an invoice price of $2,800 (total); terms 2/10, n/30.

28 Sold 12 identical items of merchandise to Customer D at an invoice price of $7,200 (total); terms 2/10, n/30.

30 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer.

Dec. 06 Customer D paid the account balance in full.

30 Customer C paid in full for the invoice of November 25.



Required:

1. Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold.

2. Compute Net Sales.

Answer 1

I don’t know the answer of this question