Journalize the following transactions for Martin Bicycles using the periodic inventory system. Explanations not required. (Record debits first, then credits. Exlude explanations from journal entries. Assume company uses the net amount record sales)

Nov. 2: Purchased $2800 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point from shook bikes.

these are the transactions

Journalize the following transactions for Martin Bicydes using the periodic inventory system. Explanations are not required. (Record debits fir company uses the net amount to record sales.) (Click the icon to view the transactions.) Nov. 2: Purchased $2,800 of merchandise inventory on account under terms 3/10, NEOM and FOB shipping point from Shook Bikes, Date Accounts Debit Credit Nov. 2 UOC Assigned Media s for Martin Bicycles using the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanatio acord sales.) sactions.) handise More Info Acco Nov. 2 Nov. 6 Nov. 8 Purchased $2,800 of merchandise inventory on account under terms 3/10, NEOM and FOB shipping point from Shook Bikes. Returned $500 of defective merchandise purchased on November 2. Paid freight bill of $180 on November 2 purchase. Sold merchandise inventory on account for $6,600 to Curtis Tours. Payment terms were 2/16, 1/45 Paid amount owed to Shook Bikes on credit purchase of November 2, less the return and the discount. Received cash from Curtis Tours for November 10 sale in full settlement of their debt, less the discount. Nov. 10 Nov. 11 Nov. 22 Print Done number in the input fields and then click Check Answer. Clear All