i would appreciate if you kindly provide undermentioned questions journal entry .

Perpetual Inventory System:

Purchase of Inventory on Credit:

Description: The company purchases inventory on credit.

Journal Entry:

Debit: Inventory (Asset)

Credit: Accounts Payable (Liability)

Sale of Inventory on Credit:

Description: The company makes a sale of inventory on credit to a customer.

Journal Entry:

Debit: Accounts Receivable (Asset)

Credit: Sales (Revenue)

Debit: Cost of Goods Sold (Expense)

Credit: Inventory (Asset)

Inventory Return by Customer:

Description: A customer returns a portion of the purchased inventory.

Journal Entry:

Debit: Sales Returns and Allowances (Contra-Revenue)

Credit: Accounts Receivable (Asset)

Inventory Write-Down:

Description: The company assesses that some of its inventory has become obsolete and needs to be written down.

Journal Entry:

Debit: Cost of Goods Sold (Expense)

Credit: Allowance for Obsolete Inventory (Contra-Asset)

Inventory Count and Adjustment:

Description: The company conducts a physical inventory count and finds a discrepancy with the recorded inventory value.

Journal Entry:

Debit: Inventory Shortage (Expense, if negative adjustment)

Credit: Inventory Overage (Asset, if positive adjustment)