The Following Information Is for the Cappelio Appliance Company, Which

Essay

The following information is for the Cappelio Appliance Company, which uses the perpetual inventory system:
June 2 Sold 70 toaster ovens to the Motor Inn for $7,700 on account. Credit terms: n/30. Quantity discounts of 10% are given on all orders of 65 or more items. Cost of each toaster oven was $50.
5 Cash sales of 50 toaster ovens amounted to $5,500. Cost was $50 each.
8 Credited the Motor Inn account for $495 as an adjustment on 5 damaged units purchased by the Motor Inn on June 2. The units were scrapped.
15 Received a cheque from the Motor Inn in full payment of its account less damage allowance.
Instructions
Record the following transactions in the general journal.