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A company has the following transactions during March: March 3 Purchases inventory on account for $3,200, terms 3/10, 1/30. March 5 Pays freight costs of
A company has the following transactions during March: March 3 Purchases inventory on account for $3,200, terms 3/10, 1/30. March 5 Pays freight costs of $270 on inventory purchased on March 3. March 6 Returns inventory with a cost of $300. March 12 Pays the full amount due on March 3 purchase. March 29 Sells all inventory purchased on March 3 (less those returned on March 6) for $5,200 on account. Record all transactions, assuming the company uses a perpetual inventory system. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the purchase of inventory on account for $3,200, terms 3/10, n/30. Note: Enter debits before credits. Date General Journal March 03 Debit Credit Record entry Clear entry Journal entry worksheet
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