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Below are the transactions that took place in the two companies, PT A and PT XYZ 1-Mar-21 PT XYZ purchases $130,000 of inventory on terms
Below are the transactions that took place in the two companies, PT A and PT XYZ 1-Mar-21 PT XYZ purchases $130,000 of inventory on terms 2/10,n/30, freight costs $100 bome by PT XYZ 2-Man-21 Company A, which is engaged in the sale of electric bicycles, purchases supplies from its vendor PT. XYZ is $20,000, freight costs are paid in cash by the buyer for $40 on condition 2/10, n/30. The cost of making bicycles at PT XYZ is a lotal of $12.500 6-Mar-21 Some of the goods relumed to PT. XYZ is $400, the COGS of the item is $300 for PT XYZ 7-Mail-21 The company pays its debt to PT XYZ 0-Mar-21 PT XYZ relums part of goods to vendor for $5,000 9-Mar-21 PT XYZ pays the payable for the purchase of inventory on March 1 to its vendor 13-Mar-21 PT A sells electric bicycles with total sales of $1,000 to PT. RR with lens 3/10./30. COGS of goods sold is $800, freight costs are paid by PT. A for $20 27-Mar-21 PT RA pays its debt to PT A 28-Mar-21 PT. XYZ calculates that there is $30,000 of inventory in the warehouse, while the records bookkeeping remaining inventory is $20,000 It is known, PT A and PT XYZ have account data as below at the end of the accounting period March 2021 PT. A PT. XYZ Salaries and Wages Experise 120 1000 Utilities Expense 30 200 Advertising Expense 50 40 Depreciation Expense 10 200 Insurance Expense 25 100 Dividen payment 50 450 Beginning Inventory 15,000 Ending Inventory 25.400 Requested: a. Journalize PT A's transactions with the perpetual system and its dosing entries b. Journalize PT XYZ's transactions with the periodic system and its closing entries
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