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DAISY MERCHANDISING CO. Transactions that took place during the month of April for Daisy Merchandising Company are as follows: April 1, Company has $
DAISY MERCHANDISING CO. Transactions that took place during the month of April for Daisy Merchandising Company are as follows: April 1, Company has $ 10.000 of merchandise as of the beginning of the month. April 3, April 9, April 10, April 19, April 20, Purchased merchandise for $ 4.000 in cash, FOB Shipping Point. Paid $500 in cash. Sold merchandise for $3.000 on credit, FOB Destination. Paid $300 for the transportation. Cost of the merchandise sold was $ 1.500. Sold merchandise for $ 5.000 in cash, FOB Shipping Point. Cost of the merchandise sold was $ 3.000. Purchased merchandise for $ 4.500 on account, FOB Shipping Point. Paid $ 450 for transportation. Sold merchandise for $ 1.000 on account, FOB Shipping Point. Cost of the merchandise sold was $ 750. Required: Journalize the transactions of Daisy Merchandising Company using "Perpetual Inventory Method".
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