ACG 2021 Review of Periodic and Perpetual Journal Entries Prepare the necessary journal entries: 1. Wendys Wedding Dresses purchased 5 wedding dresses from her supplier on credit, for a cost of $1,500, terms 3/15, n./30. She uses a perpetual inventory system.

2. Wendy noticed one of the dresses had a stain, and returned it to the supplier. The cost of the dress was $250. 3. Wendy paid $100 in shipping to have to dresses shipped into the store.

4. Wendy pays the supplier the amount owed, within the discount period.

5. Wendy sells a wedding dress to a customer (for cash) for $1,200. The cost of the dress was $300.

6. Wendy sells a dress to a customer that wants it shipped to West Palm Beach, for $2,000. The customer uses a Visa Card to pay for the transaction, and a 2% fee was charged by the credit card company. The cost of the dress was $550.

7. A customer of Wendys returned her dress to the store because she called of the engagement. The original sales price of the dress was $1,000, and the cost was $300. The customer was refunded the money in cash. Because the dress had not been altered or worn, Wendy returned the dress to inventory