Gold Corporation Had the Following Transactions Use the Following Sales Journal to Record the Preceding Transactions

question 38

Essay

Gold Corporation had the following transactions:
$$\begin{array} { | l | l | } \hline \text { Jun. } 4 & \begin{array} { l } \text { Sold merchandise inventory on account to Sarah Pardee, } \$ 1,210 . \text { Cost of goods, } \$ 920 . \\\text { Invoice no. } 101 .\end{array} \\\hline 10 & \begin{array} { l } \text { Sold merchandise inventory on account to Sean Lewis, } \$ 2,100 . \text { Cost of goods, } \$ 1,660 . \\\text { Invoice no. } 102 .\end{array} \\\hline 12 & \begin{array} { l } \text { Sold merchandise inventory on account to Ellie Robins, } \$ 400 . \text { Cost of goods, } \$ 230 . \\\text { Invoice no. } 103 .\end{array} \\\hline 26 & \begin{array} { l } \text { Sold merchandise inventory on account to Diana Rees, } \$ 870 . \text { Cost of goods, } \$ 630 . \\\text { Invoice no. } 104 .\end{array} \\\hline\end{array}$$ Use the following sales journal to record the preceding transactions. The company uses the perpetual inventory system.
$$\begin{array} { | c | c | c | c | c | c | } \hline \text { Sales Journal } & & & && \text { Page 1 } \\\hline \text { Date } & \begin{array} { c } \text { Invoice } \\\text { No. }\end{array} & \begin{array} { c } \text { Customer } \\\text { Account } \\\text { Debited }\end{array} & \begin{array} { c } \text { Post } \\\text { Ref. }\end{array} & \begin{array} { c } \text { Accounts Receivable DR } \\\text { Sales Revenue CR }\end{array} & \begin{array} { c } \text { Cost of Goods Sold DR } \\\text { Merchandise Inventory } \\\text { CR }\end{array} \\\hline & & & & & \\\hline & & & & & \\\hline & & & & & \\\hline\end{array}$$

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Definitions:

Self-esteem

One's subjective evaluation of their own worth or the degree to which they value themselves.

Spotlight Effect

The idea that other people are focusing more on how we look and act than they actually are.

Flattering Descriptions

Positive and often exaggerated comments that make someone or something seem better or more attractive than they are in reality.

Self-serving Bias

A common cognitive bias that causes individuals to perceive situations and interpret information in a way that benefits them or supports their pre-existing beliefs or interests.