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13 Sony Company had the following transactions in December: Dec. 2 Dec. 4 Sony purchased $300,000 merchandise inventory on account terms, 2/10, n/30, FOB shipping

13 Sony Company had the following transactions in December: Dec. 2 Dec. 4 Sony purchased $300,000 merchandise inventory on account terms, 2/10, n/30, FOB shipping point Sony returned $70,000 of the merchandise purchased on Dec. 2 because it was defective. Dec. 10 Sony paid the invoice dated Dec 2 less returns and discount. Required: Prepare journal entries for these 3 transactions assuming Sony uses a perpetual inventory system. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac), BIUS Paragraph Arial 10pt Av IM QUESTION 13 Sony Company had the following transactions in December: Dec. 2 Dec. 4 Sony purchased $300,000 merchandise inventory on account terms, 2/10, n/30, FOB shipping point. Sony returned $70,000 of the merchandise purchased on Dec. 2 because it was defective. Dec. 10 Sony paid the invoice dated Dec 2 less returns and discount. Required: Prepare journal entries for these 3 transactions assuming Sony uses a perpetual inventory system. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph V Arial 10pt AID P

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