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Journalize the following transactions for Beta Co . assuming ( a ) a perpetual inventory system, and ( b ) a periodic inventory system. If

Journalize the following transactions for Beta Co. assuming (a) a perpetual inventory system, and (b) a
periodic inventory system. If no entry is required, write no entry.
May 1 Beta purchased $5,000 of inventory from Delta. Terms 2/10 net 30, FOB destination.
May 5 The appropriate company paid freight charges of $250 relating to the May 1 transaction.
May 7 Beta sold $7,600 of inventory to Gamma on account. Terms 1/10 net 30, FOB
destination. The inventory originally cost $5,200.
May 10 Beta paid their account to Delta in full (relating to the May 1 transaction).
May 11 The appropriate company paid freight charges of $300 relating to the May 7 transaction.
May 15 Beta received cash from Gamma for the full amount outstanding from May 7.

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