Accounting in Merchandising Company

Below are transactions that took place at the two companies, DANS and NEST .

Given:

DANS and NEST have account data as below at the end of the accounting period May 2022 (in $).

Asked:

a. Make a journal for DANSs transactions using perpetual systems and DANSs closing entries!

b. Make a journal of NESTs transactions using periodic systems and NESTs closing entries!

\begin{tabular}{|c|c|} \hline May 1,22 & \begin{tabular}{l} NEST purchased $30,000 of inventory with terms 2/10,n/30, shipping costs \\ of $100 were borne by NEST. \end{tabular} \\ \hline May 2,22 & \begin{tabular}{l} DANS, who sells electric bicycles, buys supplies from the vendor NEST.is \\ $20,000, freight costs are paid in cash by the buyer in the amount of $40 with \\ terms 2/10,n/30. The cost of making a bicycle at NEST.is a total of $12,500. \end{tabular} \\ \hline May 6,22 & \begin{tabular}{l} Some goods were returned to NEST. is $400, the COGS of the goods is $300 \\ for NEST. \end{tabular} \\ \hline May 7,22 & DANS pays his debt to NEST.. \\ \hline May 8,22 & NEST returned some goods to its vendor for $5,000. \\ \hline May 9,22 & NEST paid the debt for purchasing inventory on May 1 to its vendor. \\ \hline May 13,22 & \begin{tabular}{l} DANS sells goods with total sales of $1,000 to BONSCO with conditions \\ 3/10.n/30, COGS of goods sold is $800, freight costs paid by DANS for $20 \end{tabular} \\ \hline May 27,22 & BONSCO paid its debt to DANS \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline & DANS & NEST \\ \hline Salaries and Wages expense & $120 & $1.000 \\ \hline Utilities Expense & $30 & $200 \\ \hline Advertising Expense & $50 & $40 \\ \hline Depreciation Expense & $10 & $200 \\ \hline Insurance Expense & $25 & $100 \\ \hline Dividend Payment & $50 & $450 \\ \hline Beginning Inventory & & $20.000 \\ \hline Ending Inventory & & $30.400 \\ \hline \end{tabular}