Tami Girard
New member
help? Heres the general journal entries i just cant figure out how to calculate net sales, cost of goods sold, and gross profit. If anyone can help me that would be GREAT !
June 1
Accounts Receivable 7,000 dr
Sales Revenue 7,000 cr
Cost of Goods Sold 6,250 dr
Merchandise Inventory 6,250 cr
June 2
Merchandise Inventory 3,500 dr
Accounts Payable 3,500 cr
June 4
Merchandise Inventory 14,500 dr
Accounts Payable 14,500 cr
June 5
Accounts Receivable 11,000 dr
Sales Revenue 11,000 cr
Cost of Goods Sold 9,000 dr
Merchandise Inventory 9,000 cr
June 6
Cash 6,860 dr
Sales Discounts 140 dr
Accounts Receivable 7,000 cr
June 12
Accounts Payable 3,500 dr
Cash 3,465 cr
Purchase Discounts 35 cr
June 20
Cash 11,000 dr
Accounts Receivable 11,000 cr
June 30
Accounts Payable 14,500 dr
Cash 14,500 cr
June 1
Accounts Receivable 7,000 dr
Sales Revenue 7,000 cr
Cost of Goods Sold 6,250 dr
Merchandise Inventory 6,250 cr
June 2
Merchandise Inventory 3,500 dr
Accounts Payable 3,500 cr
June 4
Merchandise Inventory 14,500 dr
Accounts Payable 14,500 cr
June 5
Accounts Receivable 11,000 dr
Sales Revenue 11,000 cr
Cost of Goods Sold 9,000 dr
Merchandise Inventory 9,000 cr
June 6
Cash 6,860 dr
Sales Discounts 140 dr
Accounts Receivable 7,000 cr
June 12
Accounts Payable 3,500 dr
Cash 3,465 cr
Purchase Discounts 35 cr
June 20
Cash 11,000 dr
Accounts Receivable 11,000 cr
June 30
Accounts Payable 14,500 dr
Cash 14,500 cr