566 CHAPTER 15 Accounting for Merchandise Inventory 15A- MyAccountinglab Exercises Set A (20 min) LO1 20 min) Lo115A-1. The Mark Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal. Feb. 3 Purchased s0 model 770x ight fitures on account from Solar Electric at to 201X Feb. 3 Purchased 50 model 77DX light fixtures on account from Solar cost of $2,000: terms n/30. fixtures amounted to $180 cash refund. fixtures that came in damaged in the shipment of february 3. Sold 10 model U67 light fixtures for cash for $280 total. The cost of these t 5 15A Our customer returned 2 model U67 light fixtures. We gave the customer 10 We issued a debit memo for $80 to Solar Electric for 2 model 77DX l (20 min) 01,2 15A-2. The RJM Company uses the perpetual inventory system with a subsid 15A ledger for inventory. Enter the following information in the inventory ary p to-date balance for product U47. Be sure to keep the balance on hand u 201x Nov. 5 Purchased on account 13 units at a cost of $10 each. (Inventory on hand prior to this purchase was zero units.) Sold 7 units for $15.70 each. (Hint: The inventory record only contains information about the cost of a product, not the selling price!) This is a cash safe Set 6 15B Sold 1 unit for $15.70 each. This is a cash sale. Purchased on account 12 additional units at a cost of $10 each. 7 10 min) 101,215A-3. Journalize and post the preceding transactions (for Exercise 15A-2) using a two-column journal and T accounts