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Inventory Journal Entries: PERPETUAL Journalize the following transactions for Dukes of Hazzzzzzard, Inc. They are a boot retailer. They use PERPETUAL inventory. 9.5.21 Purchased $40,000
Inventory Journal Entries: PERPETUAL Journalize the following transactions for Dukes of Hazzzzzzard, Inc. They are a boot retailer. They use PERPETUAL inventory. 9.5.21 Purchased $40,000 of boots on account from Laizy Daizy, Inc. Terms were 5/10n/30. 9.10.21 Returned $3,000 of boots to Laizy Daizy, Inc. 9.15.21 Received a freight bill from Billy Bob for $700. Invoice related to the shipment of boots received from Laizy Daizy, Inc. on 9.5.14. Terms were FOB Destination. 9.17.21 Sold $6,000 of boots to Boss Hawg on account. Terms were 3/10n/30. The boots cost to Dukes of Hazzzzzzzard, Inc. was $3,000. QUESTIONS 1. How much does Boss Hawg owe at the end of September 2021? 2. What is the balance in the Sales Discount account at the end of September 2021 ? 3. What is the balance in the Purchases account at the end of September 2021 ? 4. How much does Dukes of Hazzzzzzard, Inc. owe Laizy Daizy at the end of September 2021? 5. What is the balance in the Inventory account at the end of September 2021
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