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Jester Inc. is a merchandiser which uses the perpetual inventory system . It had the following transactions occur during April: April 15: Purchased inventory costing
Jester Inc. is a merchandiser which uses the perpetual inventory system. It had the following transactions occur during April:
April 15: | Purchased inventory costing $1,700 on account, terms 3/10, n/30. |
April 25: | Paid for the inventory previously purchased on April 15. |
Required: In the journal below, record these two transactions. Do not include symbols, decimals or cents in the numerical response.
Date | Debit | Credit | |
April 15 | Answer InventorySuppliesMachineryAccounts PayableAccounts ReceivableSales Revenue | Answer | |
Answer InventorySuppliesMachineryAccounts PayableAccounts ReceivableSales Revenue | Answer | ||
April 25 | Answer InventoryCost of Goods SoldInventory ExpenseSales DiscountsPurchase DiscountsAccounts ReceivableAccounts Payable | Answer | |
Answer Sales RevenueCashAccounts ReceivableAccounts Payable | Answer | ||
Answer Cost of Goods SoldInventory ExpenseSales DiscountsPurchase DiscountsInventory | Answer |
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