Friday, 1 April, 12:00

Course event

Please record the entries for the inventory purchase transactions below (Perpetual Inventory System)

1. Sep2, business bought $3,750 inventory from DC Penny Inc. paid in Cash

2. Sep6, business bought $4,300 inventory from the TJB Inc. Term 1/5, n/30 FOB

3. Sep7, Business purchased $9,200 inventory from Topaz's Inc.

4. Sep7. Business paid $235 shipping charges for the inventory purchased on Sep6

5. Sep11, business found $250 defective units from the Sep7 purchase, returned them back to Topaz's Inc.

6. Sep15 business paid TJB Inc in full

7. Sep 25, Business paid Topaz's Inc in full

8. Instead of paying Topaz's Inc on Sep25, What would be the entry if the business was paying

Topaz's Inc on Sep17.