26) Journalize the following transactions for Jill Company using the perpetual inventory method.
June 8Jill Co. sold $3,500 of merchandise, costing $2,850 on account to Betty, terms 3/10, n/30.
June 12Betty returned $350 of the merchandise, costing $190 to Jill Company for credit on her account.
June 16Betty paid her balance.
27) Journalize the following transactions for Jill Company using the periodic inventory system.
June 8Jacob Co. sold $5,500 of merchandise, costing $4,150 on account to Breanne, terms 2/10, n/30.
June 12Breanne returned $550 of the merchandise, costing $410 to Jacob Company for credit on her account.
June 16Breanne paid her balance.
28) Journalize the following transactions using the perpetual inventory method.
Aug. 10Sold $4,100 of inventory for $5,100 for Oden Corp. with terms 2/15, n/30
Aug. 12 Received payment of $1,000 cash in full from Jany Smith for a July 1 sale
with terms 2/10 n/30
Aug. 15 Granted Oden Corp. an allowance of $400 for Aug. 10 transaction for minor
defects in the goods shipped
Aug. 23 Received payment in full from Oden Corp. for the Aug. 10 sale