Journalize the following transactions for a merchandiser that uses the gross method for recording sales and a perpetual inventory system.
On January 8,inventory was sold for $7,000 on account.Credit terms were 2/15,n/30 (cost $5,500).On January 31,cash was received in full settlement of the January 8 sale.Omit explanations.

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The Answer of Journalize the following transactions for a merchandiser that uses the gross method for recording sales and a perpetual inventory system.
On January 8,inventory was sold for $7,000 on account.Credit terms were 2/15,n/30 (cost $5,500).On January 31,cash was received in full settlement of the January 8 sale.Omit explanations.

Journalize the Following Transactions for a Merchandiser That Uses the Gross