Record the following transactions for North Company in general journal form. North Company uses… 1 answer below »

Record the following transactions for North Company in general journal form. North Company uses the perpetual inventory system.

July 1 Sold merchandise on account to Ryder, Inc., invoice no. 5865, $1,450.50. Cost of inventory sold is $1,125.40.

6 Sold merchandise on account to Dean Co., invoice no. 5866, $2,240.25. Cost of inventory sold is $1,950.30.

8 Ryder, Inc., returned $475.00 worth of merchandise purchased on July 1, with a cost of $230.25. North Company issued credit memorandum no. 149

 

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