Current Attempt in Progress

Martinez Company buys merchandise on account from Marigold Company for $$592.$ Martinez sells the goods to Ellis for $$900$ cash. Use a tabular summary to record the transactions for Martinez Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.

Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

Increases in expenses require a negative sign or parentheses.

Reductions in revenues require a negative sign or parentheses.

List of Accounts