The following information is for the Cappelio Appliance Company, which uses the perpetual inventory system:
June 2 Sold 70 toaster ovens to the Motor Inn for $7,700 on account. Credit terms: n/30. Quantity discounts of 10% are given on all orders of 65 or more items. Cost of each toaster oven was $50.
5 Cash sales of 50 toaster ovens amounted to $5,500. Cost was $50 each.
8 Credited the Motor Inn account for $495 as an adjustment on 5 damaged units purchased by the Motor Inn on June 2. The units were scrapped.
15 Received a cheque from the Motor Inn in full payment of its account less damage allowance.
Instructions
Record the following transactions in the general journal.

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The Answer of The following information is for the Cappelio Appliance Company, which uses the perpetual inventory system:
June 2 Sold 70 toaster ovens to the Motor Inn for $7,700 on account. Credit terms: n/30. Quantity discounts of 10% are given on all orders of 65 or more items. Cost of each toaster oven was $50.
5 Cash sales of 50 toaster ovens amounted to $5,500. Cost was $50 each.
8 Credited the Motor Inn account for $495 as an adjustment on 5 damaged units purchased by the Motor Inn on June 2. The units were scrapped.
15 Received a cheque from the Motor Inn in full payment of its account less damage allowance.
Instructions
Record the following transactions in the general journal.

The Following Information Is for the Cappelio Appliance Company, Which