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e following prepare the entries that both the purchaser and seller should record for these transactions Assume both companies use a perpetual inventory system Ecember
e following prepare the entries that both the purchaser and seller should record for these transactions Assume both companies use a perpetual inventory system Ecember 13 Northstar Corp sold merchandise that cost $5,440 to Benson Inc. for $6,800 under credit terms of 1/30, FOB shipping point ecember 16 Benson Inc. requested a price reduction on the December 13 sale because the merchandise did not meet specifications. Northstar Corp. sent Benson Inc a credit memorandum for $1,000 to resolve the iss ecember 20 Benson Inc. paid Northstar Corp. the balance due. the transaction letter as the description when entering the transactions in the journal Dates must be entered in the format ddram (.e., January 15 would be 15/Jan) use the and" button to change the number of accounts (if necessary) for each journal entry b) Northstar Corp enson Inc
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