Question
Dalian Cooling Systems sells a range of air conditioners.Dalian Cooling Systems uses a perpetual inventory system.The following transactions occurred during October 2018.Prepare general journal entries
Dalian Cooling Systems sells a range of air conditioners.Dalian Cooling Systems uses a perpetual inventory system.The following transactions occurred during October 2018.Prepare general journal entries to record all of the below transactions. Ignore GST. Narrations are not required
Oct 2Purchased 30 air conditioners for $650 on credit from Michigan Air.
Oct 3Returned 3 defective air conditioners to the supplier.
Oct 7Paid Michigan Air for the air conditioners taking advantage of the 2% discount offered for early payment.
Oct 9Sold 12 of the air conditioners for $1,200 on credit.
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