Use a tabular summary to record the following transactions for Larkspur Co. (Omit recording cost of goods sold.)
(a)
On July 1, Larkspur Co. sold merchandise on account to Stacey Inc. for $18,870.
(b)
On July 8, Stacey Inc. returned $1,970 of July 1 merchandise to Larkspur Co.
(c)
On July 11, Stacey Inc. paid for the merchandise.
(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Assets
Cash
+
(a)
July
1
$
(b)
8
(c)
11
Accts. Rec.
$
Liabilities +
Common Stock
$
