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Consider the following transactions for Burlington Drug Store: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required.
Consider the following transactions for Burlington Drug Store: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Burlington Drug Store? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Round the answers to the nearest whole dollar. Record debits first, then credits. Exclude explanations from joumal entries.) Feb. 2: Burlington buys $23,800 worth of inventory on account with credit terms of 2/15, n/30, FOB shipping point Date Accounts Debit Credit Feb. 2 i More Info Feb. 4: Burlington pays a $50 freight charge Feb. 2 Burlington buya $23.800 worth of inventory on account with credit terms of 2/15, n/30, FOB shipping point. 4 Burlington pays a S50 freight charge. 9 Burlington returns $5,200 of the merchandise due to damage during shipment. 14 Burlington paid the amount due, loss return and discount Date Accounts Debit Credit Feb.4 Print Done Feb. 9: Burlington returns $5,200 of the merchandise due to damage during shipment. Date Accounts Debit Credit Feb. 9 Feb. 14: Burlington paid the amount due, less return and discount. Date Accounts Debit Credit Feb. 14 Requirement 2. In the final analysis, how much did the inventory cost Burlington? The inventory cost for Burlington is $
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