HW-1: Journalize the following merchandising transactions for Scout Systems assuming; (a) a periodic system, and (b) a perpetual system. Nov. 1 Scout Systems purchases merchandise for $2,800 on credit with terms of 2/10, n/30. Scout Systems pays for the previous purchase. Scout Systems receives payment for returned defective merchandise of $200 that was purchased on November 1. 57 10 13 16 Scout Systems pays $160 to transport merchandise to its store. Scout Systems sells merchandise for $3,000 on account. The cost of the merchandise was $1,500. A customer returns merchandise from the November 13 transaction. The returned item sold for $400 and cost $200. The item will be returned to inventory.

lournalize the following merchandising transactions for Scout Systems assuming: (a) a periodic system, and (b) a perpetual system