Austin's Pub Supply uses the gross method of accounting for sales and a periodic inventory system and had the following sales transactions during August: Prepare the journal entries that Austin's Pub Supply must make to record these transactions.

Question

Austin's Pub Supply uses the gross method of accounting for sales and a periodic inventory system and had the following sales transactions during August:  Prepare the journal entries that Austin's Pub Supply must make to record these transactions.

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The Answer of Austin's Pub Supply uses the gross method of accounting for sales and a periodic inventory system and had the following sales transactions during August:  Prepare the journal entries that Austin's Pub Supply must make to record these transactions.

Austin's Pub Supply Uses the Gross Method of Accounting for Sales