Norman Company completed the following transactions in October. Prepare a Journal entry for October 23?

• debit credit card machines
• credit debit machines
• accounts receivable business
• free tax returns

Norman Company completed the following transactions in October: Norman uses a perpetual inventory system.


Credit Sales: Sales Returns:

Date: Amount: Terms: Date: Amount: Date of Collection: Cash received for each collection:

Oct. 3 $800 2/10, n/30 Oct. 8 $784

Oct. 11 1,500 3/10, n/30 Oct.14 $300 Oct. 16 1,164

Oct. 17 5,000 1/10, n/30 Oct. 20 1,200 Oct. 29 3,800

Oct. 21 1,700 2/10, n/30 Oct. 23 400 Oct. 27 1,274

Oct. 23 6,000 2/10, n/30 Oct. 27 500 Oct. 28 5,390


(This is supposed to be like a chart. If it's easier to draw it on paper, then please do so. Sorry if it looks a little confusing)


Prepare the journal entry for the following:


Oct. 23 sales return. The merchandise returned had a cost of $200.


dr. Sales Returns and Allowances ?

cr. Accounts Receivable ?

(to record credit granted for returned goods)


dr. Inventory 200

cr. Cost of Goods Sold 200

(To record cost of good returned)


How much do you debit Sales Returns and Allowances and credit Accounts Receivable for? Please help. Thanks.

Norman Company completed the following transactions in October. Prepare a Journal entry for October 23?