Complete the following table, indicating the amount and direction of effect of each transaction on each item in Rockland Shoe Company's income statement. Be sure to compute the total effects in the final column. Rockland allows returns within only two weeks of the initial sale. Enter any decreases to account balances with a minus sign.
July Rockland sold merchandise to Kristina Zee at its factory store. Kristina paid for the $ purchase in cash. The goods cost Rockland $
July Sold merchandise to Shoe Express at a selling price of $ with terms Rockland's cost was $ July Shoe Express returned $ of the shoes purchased July The returned shoes were in perfect condition and had cost Rockland $
July Shoe Express paid the balance owing after the events on July and
tableTransactionJuly July July July TotalsSales Reveriues,,,,,Sales Returns and Allowance,,,,,Net Sales,,,,,Cost of Goods Sold,,,,,Gross Profit,,,,,
