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Brief Exercise 5-2 Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $1,112, and the cost of the

Brief Exercise 5-2

Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $1,112, and the cost of the goods is $775. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies

Account Titles and Explanation

Debit

Credit

Radomir Company

Lemke Company

(To record credit sale)

(To record cost of merchandise sold)

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