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Requirements

Prepare headings for a sales journal. Journalize the transactions that should be recorded in the sales journal. Assume the company uses the perpetual inventory system.

Total each column of the sales iournal.

Requirements $1$ & $2.$ Prepare headings for a sales journal. Journalize the transactions that should be recorded in the sales journal. $($Round the sales discount to a whole dollar.$)$ Assume the company uses the perpetual inventory system. Total each column of the sales journal. $($If a box is not used in the journal leave the box empty; do not select information and do not enter a zero. Abbreviation used: Inv. $=$ Invoice.$)$

More info

Feb. $1$ Sold merchandise inventory on account, terms $\frac{n}{30},$ to Clip Co$.,$ $$1,125.$ Cost of goods, $$830.$ Invoice no$.401.$

Feb. $6$ Sold merchandise inventory for cash, $$920($cost$,$ $$710).$

Feb. $12$ Collected interest revenue of $$80.$

Feb. $15$ Received cash from Clip Co$.$ in full settlement of its account receivable.

Feb. $20$ Sold merchandise inventory on account, terms $\frac{n}{30},$ to Dill Co$.,$ issuing invoice no$.402$ for $$1,300($cost$,$ $$875).$

Feb. $22$ Sold merchandise inventory for cash, $$640($cost $$490).$

Feb. $26$ Sold office supplies to an employee for cash of $$130.$

Feb. $28$ Received $$1,300$ from Dill Co$.$ in full settlement of its account receivable.

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