The following transactions took place at Fine Fashions

Outlet during
The following transactions took place at Fine Fashions Outlet during July 2019. Fine Fashions
Outlet uses a perpetual inventory system. Record the transactions in a general journal. Use 8 as
the page number for the general journal.DATE TRANSACTIONS2019July 1 Purchased dresses
for $4,750 plus a freight charge of $250 from FashionExpo, Invoice 101, dated July 1; the terms
are 2/10, n/30.5 Sold two dresses on account to Alice Chu, terms 1/10, n/30; issued Sales Slip
788 for $600. The cost of the dresses sold was $400.7 Received Credit Memorandum 210 for
$550 from Fashion Expo for damaged dresses returned; the goods were purchased on Invoice
101, dated July 1.9 Accepted a return of a dress from Alice Chu; the dress was originally sold
on Sales Slip 788 of July 5; issued Credit Memorandum 89 for $200. The cost of the returned
dress was $135.10 Issued Check 1255 to pay the amount due to Fashion Expo for Invoice 101,
dated July 1, less the return of July 7 and less the cash discount.15 Received payment from
Alice Chu for the sale of July 5, less the return of July 9 and less the cash discount.15 Recorded
sales on credit cards for the two-week period ended July 15, $12,000; the bank charges a 3%
fee on all credit card sales. The cost of merchandise sold was $8,000.17 Purchased
merchandise on account from Fashion Wholesalers for $4,500, subject to trade discounts of
40% and 10%; terms 1/10, n/30, Invoice 2078.26 Paid amount owed to Fashion Wholesalers for
the purchase of July 17, Check 106.Analyze:What percentage of the total amount due to
Fashion Expo on July 1 is due to the freight charge?View Solution: The following transactions
took place at Fine Fashions Outlet during
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