Forrest's Cycle Shop uses a perpetual inventory accounting system and the gross method of accounting for sales had the following transactions during the month of July:
July 3 July 4July 6July 8July 15 July 31 Sold merchandise to a customer on credit for $600, terms 2/10,n30. The cost of the merchandise sold was $350. Sold merchandise to a customer for cash of $425. The cost of the merchandise was $250. Sold merchandise to a customer on credit for $1,300, terms 2/10,n/30. The cost of the merchandise sold was $750. The customer from July 3 returned merchandise with a selling price of $100. The cost of the merchandise returned was $55. The customer from July 6 paid the full amount due, less any appropriate discounts earned. The customer from July 3 paid the full amount due, less any appropriate discounts earned.
Prepare the required journal entries that Forrest's Cycle Shop must make to record these transactions.
Definitions:
Cognitive-behavioral Approaches
A form of psychotherapy that treats problems by modifying dysfunctional emotions, behaviors, and thoughts.
Techniques
Techniques refer to the specific strategies or methods used in therapy or counseling to facilitate change or provide relief to the individual.
Feelings
Emotional experiences or reactions to circumstances, thoughts, or interactions, which can vary in intensity and duration.
Written Contracts
Agreements between therapist and client, often outlining goals, responsibilities, and expectations to guide the therapeutic process.