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9 Journalize purchase and sale P5-2B Cosmotologist Warehouse distributes commercial hair care products in one transactions under a per petual inventory system. gallon bottles to
9 Journalize purchase and sale P5-2B Cosmotologist Warehouse distributes commercial hair care products in one transactions under a per petual inventory system. gallon bottles to hair salons and extends credit terms of 3/10, 1/30 to all of its customers. During the month of April, the following merchandising transactions occurred. (LO 2, 3), AP Apr 1 Purchased 190 bottles on account for $6 each (including freight) from Luminous Hair, terms 2/10, n/30. 3 Sold 40 bottles on account to the Jane's Hair Salon for $10 each. 6 Received $90 credit for 15 bottles returned to Luminous Hair Paid Luminous Hair in full, 12 Received payment in full from the Jane's Hair Salon 13 Sold 25 bottles on account to Luxury Salon for $12 each. 20 Purchased 200 bottles on account for $6 each from Blond Beauty, terms 1/15, n/30 24 Received payment in full from Luxury Salon Paid Blond Beauty in full. Sold 160 bottles on account to Beautiful Cuts salons for $10 cach. 30 Granted Beautiful Cuts $120 credit for 12 bottles returned costing $72. Instructions Journalize the transactions for the month of April for Cosmotologist Warehouse, using a perpetual inventory system. Assume the cost of each bottle sold was $6. 26 28
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