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E #3 Cai construction is a company. Complete all journal entnes for January 2011 The Company uses a PERPETUAL inventory system. Instructions: Book the following
E #3 Cai construction is a company. Complete all journal entnes for January 2011 The Company uses a PERPETUAL inventory system. Instructions: Book the following journal entries. Date Cai purchased 10 windows, FOB destination, 3/10 net 30 from a window 1 7 vendor Pella, at $100 per window. 2 12 Cai returns one defective window to Pella 3 12 Cai pays the balanced it owes from transaction #2. Cai sells five windows 1/10 EOM at $250 each to Kraft Builders, terms are 14 FOB destination. 4 Kraft returns two windows AND pays the balanced owed.(One or two entries 16 ok). 5 6 17 Cai receives a freight bill for shipping to Kraft and pays it, $120
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