Assume Brilliant Spring Company uses the perpetual inventory system. The general ledger of Brilliant

 
   

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.  

Assume Brilliant Spring Company uses the perpetual inventory system. The general ledger of Brilliant Springs Company includes the following selected accounts, along with their account numbers: All credit sales are on Brilliants standard terms of 2/10, n/30. Sales and cash receipts transactions in November were as follows: Nov. 2 Sold merchandise inventory on credit to Image, Inc., $2,200. Brilliant s cost of these goods was $200. 6 As an accommodation to another company, sold new equipment for its cost of $85, receiving cash for this amount. 6 Cash sales for the week totaled $2,300 (cost, $1,500). 8 Sold merchandise inventory to A. Z. Metz on account, $7,500 (cost, $5,300). 9 Sold land that cost $9,000 for cash of $9,000. 11 Sold merchandise inventory on account to Speedy Electric, $5,800 (cost, $3,250). 11 Received cash from Image in full settlement of its account receivable from November 2. 13 Cash sales for the week were $2,400 (cost, $ 1,400). 15 Sold merchandise inventory on credit to Wilkson and Miller, $3,600 (cost, $2,300). 18 Received merchandise inventory from A. Z. Metz as a sales return, $500. The goods shipped were unsatisfactory. These goods cost Brilliant $100. 19 Sold merchandise inventory to Speedy Electric on account, $850 (cost, $350). 20 Cash sales for the week were $950 (cost, $620). 21 Received $4,400 cash from A. Z. Metz in partial settlement of its account receivable. There was no discount. 22 Received cash from Wilkson and