Brief Exercise 5-2

Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $1,416, and the cost of the goods is $1,090. Both companies use perpetual inventory systems.

Journalize the transaction on the books of both companies.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
Radomir Company
LemmeCompany
(To record credit sale)
(To record cost of merchandise sold)