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  3. prepare journal entries for the following transact

Prepare journal entries for the following transactions. The discount terms are 2/10, net 30...

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Accounting

Prepare journal entries for the following transactions.
The discount terms are 2/10, net 30
Bad Debt Expense is 3% of credit sales
Unit price is $400
a. Sold merchandise for cash of $22,000
b. Sold merchandise with an invoice price of $12,000 to Reed.
c. Sold merchandise with an invoice price of $9,500 to Watson.
d. Paid invoice for transaction b. within the discount period
e. Sold merchandise for an invoice price of $14,500
f. One unit from transaction b was returned.
g. Collected cash of $8,500 within the discount period
h. Two units were returned from transaction c
i. Transaction C was paid in full
j. Wrote off the prior years account balance of $800
k. Estimated rate on bad debts was 3% of credit sales, net of returns 6. Information from the records and bank statement and of Matrix, Inc. as of July 31, Year 1, is set forth below 15 pts
Determine the ending cash balance as of July 31
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