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Prepare the journal entries to record the following sales transactions in Bramble Corp.'s books. Bramble...

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Accounting

Prepare the journal entries to record the following sales transactions in Bramble Corp.'s books. Bramble uses a perpetual inventory
system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts. Record journal entries in the order
presented in the problem.)
Jan. 2 Bramble sold $53,000 of goods to Xtra Inc, terms n45, FOB destination. The cost of the goods sold was $29,680.
Bramble expected a return rate of 15%.
5 The appropriate company paid freight costs of $1,060.
6 Xtra returned $6,500 of the merchandise purchased from Bramble on January 2, because it was not needed. The cost
of the merchandise returned was $3,640, and it was restored to inventory.
Feb. 11 Bramble received the balance due from Xtra.
Date
Account Titles and Explanation
Debit
Credit
(To record credit sale)
(To record cost of goods sold)
(To record return of goods)
(To record cost of goods returned)
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