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Kangaroo Jim Company reported beginning inventory of 100 units at a per unil cost of $25. It had the following purchase and sales transactions during
Kangaroo Jim Company reported beginning inventory of 100 units at a per unil cost of $25. It had the following purchase and sales transactions during the year (b) Record each transaction, assuming that Kangaroo Jim Company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Jan 14 Sold 25 units at unit sales price of $45 on account. Apr. 9 Purchased 15 additional units at a per unit cost of $25 on account. Sept. 2 Sold 58 units at a sales price of $50 on account. Dec. 31 Counted inventory and deternined 40 units were still on hand. View transaction list Pecuirect (a) Record each transaction, assuming that Kangaroo Jim Company uses a perpetual Inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet View transaction list 1 2 3 4 > Journal entry worksheet Record the sale of inventory. Record the sale of inventory. Note: Enter debits before credits. General Journal Debit Credit Note: Enter de bits before credits Transaction January 14 General Journal Debit Credit Transaction January 14 Record entry Clear entry View general journal Record entry Clear entry View general journal
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