Question

journalize the sales transactions. explanations are not required. (record debits first, then credits. exclude explanations from journal entries.) mar 3 boston boutique sold $56,000 of womens clothes on account, credit terms are 1/10, n/30, to regal dresses. cost of goods is $28,000. begin by preparing the entry to journalize the sale portion of the transaction. do not record the expense related to the sale. we will do that in the following step. date accounts debit credit mar 3

Explanation:

Step1: Identify accounts affected

Accounts Receivable is debited as the customer (Regal Dresses) owes money for the goods on account. Sales Revenue is credited as the company made a sale.
Debit: Accounts Receivable - Regal Dresses $56,000
Credit: Sales Revenue $56,000

Answer:

Date	Accounts	Debit	Credit
Mar 3	Sales Revenue		$56,000