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27. Prepare the journal entries for the following transactions for Accounting RUS. Accounting R Us uses the gross method to record purchases and sales. January
27. Prepare the journal entries for the following transactions for Accounting RUS. Accounting R Us uses the gross method to record purchases and sales. January 2 - purchases 10,000 cases if beads for the upcoming Gasparilla parade at $85 per case. The terms were 2/15, n/45. January 5 - Paid the freight bill, $650 January 6 - Returned 500 cases because the beads were purple, green, and gold the colors of Mardi Gras. January 13 - Paid the invoice Assume that instead of paying the invoice on January 13, the invoice was paid on January 30
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