The following transactions were selected from the records of Evergreen Company:

The following transactions were selected from the records of Evergreen Company:

July 12	Sold merchandise to Wally Butler, who paid the $2,800 purchase with cash. The goods cost Evergreen Company $1,500.
15	Sold merchandise to Claudio’s Chair Company at a selling price of $5,500 on terms 4/10, n/30. The goods cost Evergreen Company $5,300.
20	Sold merchandise to Otto’s Ottomans at a selling price of $4,800 on terms 4/10, n/30. The goods cost Evergreen Company $3,700.
23	Collected payment from Claudio’s Chair Company from the July 15 sale.
Aug. 25	Collected payment from Otto’s Ottomans from the July 20 sale.

Required:

Prepare journal entries to record the transactions, assuming Evergreen Company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Explanation: July 23: Cash = ($5,500 × 96%) = $5,280 Sales Discounts = ($5,500 × 4%) = $220