Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory… 1 answer below »

Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory… 1 answer below »

Tsang Corporation operates in a state with no sales tax. The company uses the perpetual inventory system. Record the following transactions in a general journal: DATE TRANSACTIONS 2019 June 5 Sold merchandise on account to Benson Company; issued Sales Slip 1200 for $975, terms n/30. The cost of the merchandise sold was $683. 15 Recorded cash sales, $1,940. The cost of merchandise sold was $1,358. 30 Received payment on account due from Benson Company for the sale on June 5.

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