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i am now exams Q. (20 points) On May 1, 2020 I computer Co. had an inventory of 30 computers cost of $ 250 each
i am now exams
Q. (20 points) On May 1, 2020 \I computer Co. had an inventory of 30 computers cost of $ 250 each During the month of May the following transactions occurred, May 3.1 Purchased 15 computers on account at cost of S 250 each from Sanabel CO., FOB shipping point, . tems 2/10. n/30. May 4. \ Related party ((Gwyshe. made a cash payment of 400S for freight on this purchases. May 5. \I computer CO. sold 10 computers to National Co. for $ 350 each, FOB destination point terms 2/10, n/30 May 7. \Related party (@ulohejbl. paid $ 200 for freight of May 5 transaction. May 10, \ I computer received retums of 3 defective Computers from the National Co. May 12. \I computer returned 4 defective computers to Sanabel CO. May 14, \ I computer paid to Sanabel CO. in full for the purchase transaction of May 3. May 16, the National Co. paid in full to I computer CO. for the transaction of May 5. May 18.1 Purchased 8 computers on account at cost of S 250 each from Sanabel CO., FOB shipping point, terms 2/10, 1/10, May 30, \I computer paid to Sanabel CO. in full for the purchase transaction of May 18, *Instructions: Journalize the transactions for the month of May for I computer Company using a perpetual inventory system and periodic inventory systemStep by Step Solution
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