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Question 11 of 12 View Policies Current Attempt in Progress Prepare the journal entries to record the following sales transactions in Pina Colada Corp's books, assuming a periodic inventory system is used. (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 account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) 5 Jan. 2 Pina Colada sold $42,000 of goods to Xtra Inc., terms n/45, FOB destination. The cost of the goods sold was $23,520. Pina Colada expected a return rate of 15%. The appropriate company paid freight costs of $840. Xtra returned $5,400 of the merchandise purchased from Pina Colada on January 2, because it was not needed. The cost of the merchandise returned was $3,024, and it was restored to inventory. Pina Colada received the balance due from Xtra. 6 Feb. 11 Date -/1 = 1 Account Titles and Explanation Debit Credit NE WI

Current Attempt in Progress Prepare the journal entries to record the following sales transactions in Pina Colada Corp's books, assuming a periodic inventory system is used. (List all debit entries before credit entries. Credit account titles are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tilles and enter O for the amounts. Record journal entries in the order presented in the problem.) Jan. 2 Pina Colada sold $42,000 of goods to Xtra Inc. terms n/45,FOB destination. The cost of the goods sold was $23,520. Pina Colada expected a return rate of 15%. \$. The approptiate company paid freight costs of $840. 6 Xtra returned $5,400 of the rifrchandise purchased from Pina Colada on January 2 , because it was not needed, The cost of the merchandise coturned was $3,024, and it was restored to inventon. Feb. 11 Pina Colada received the balance due from Xtra

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