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A company has the following transactions during Mareh: Mareh 3 Purchases inventory on account for $3,200, terms 2/10,n/30. March 5 Pays freight costs of $300
A company has the following transactions during Mareh: Mareh 3 Purchases inventory on account for $3,200, terms 2/10,n/30. March 5 Pays freight costs of $300 on inventory purchased on March 3 . March 6 Returns inventory with a cost of $500. March 12 Pays the full amount due on March 3 purchase. March 29 Sells al1 inventory purchased on March 3 (less those returned on March 6) for $5,50e 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.) Journal entry worksheet 56 Record the purchase of inventory on account for $3,200, terms 2/10,n/30
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