(Solved): Journalize the following transactions assuming the perpetual inventory system and adjustments for t ...

Journalize the following transactions assuming the perpetual inventory system and adjustments for tustemer refurds and estimated returns itwentory were insast at vesed end. The company uses the net method to fecord sales. Dec. 27 Seid merchandise on account for 33,750 , terms r/15. The cost of the merchandise 3014 was \( 52.600 \). 3an. 5 fssued credit memo for 51,050 for merchandise returned from sale on December 27 . The coat of the merchandise returned was \( \$ 610 \). 6 Aeceived check for the amount due for saie on Decentber 27 loss return on Jomary. 5 . 8. 5old merchandise for \( \$ 7,000 \) plus 656 sales tax to cash retail customers. The cost of the merchandite sold was s3, 319 i IT an amount box does not requere an entry, leave it blank.