The following transactions are for Carla Vista Company. 1. 2 On December 3, Carla Vista...
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The following transactions are for Carla Vista Company. 1. 2 On December 3, Carla Vista Company sold $480,000 of merchandise to Sandhill Co. on account. The cost of the merchandise sold was $316,800. On December 8, Sandhill Co. returned $24,000 of merchandise purchased on December 3. The cost of the goods was $15,360. On December 13, Carla Vista Company received the balance due from Sandhill Co. 3. Prepare a tabular summary to record these transactions for Carla Vista Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45) Lia Assets Lia Date Cash Accts. Rec Inventory Dec 3 $ $ $ 8 13 Liabilities Stockholders' Equity Retained Earn Accts. Pay. Common Stock Rev. Exp. Stockholders' Equity Retained Earnings mmon Stock + Rev. Exp
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