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Dollar Store purchases merchandise for $2,700 on teres of 2/5, 1/30, Foo shipping point, invoice dated November 1 5 Dollar Store pays cash for the
Dollar Store purchases merchandise for $2,700 on teres of 2/5, 1/30, Foo shipping point, invoice dated November 1 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for cash refund 10 Dollar Store pays $135 cash for transportation costs for the November 1 purchase. 13 Dollar Store sells merchandise for $2,926 with terms /30. The cost of the merchandise is $1,458. 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $300 and cost $150; the items were not damaged and were returned to inventory Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system. Hint remember that a discount was taken when the company paid for the goods it later returned For transactions that require two journal entries, record the entries or separate screens. Prepare the first entry and record it in the Joumal. You will then be given the opportunity to record the second entry for the transaction, View transaction Sint Journal entry worksheet 4 5 6 > Dollar Store purchases merchandise for 52.700 on term of 21/5/30 FOR shipping point, invoice dated November 1 There
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