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make a journal list perpetual system A B C D E Record the following transactions for the month of November: F G H $27,000 $7,000
make a journal list
perpetual system
A B C D E Record the following transactions for the month of November: F G H $27,000 $7,000 1-Mar Purchased inventory on account with terms 2/10, net 30 2-Mar Returned defective merchandise to suppliers 5-Mar paid the outstanding balance to the supplier (including discount) | 6-Mar sold $3000 worth of inventory for $10,500 to customer A, 2/10 net 30 customer A returned $500 worth of product, that had a cost of goods value of 7-Mar $200 10-Mar customer A pays outstanding balance. (Remember to add discount) 10-Mar Purchased inventory on account with terms 3/5, net 30 17-Mar paid the outstanding balance to the supplier 17-Mar sold $6500 worth of inventory for $15,000 to customer B, 3/5 net 30 24-Mar customer B pays outstanding balance. $10,000 $8,000 $7,500 25-Mar Purchased inventory on account with terms 2/10, net 30. FOB shipping point $500 $1,000 26-Mar the correct company pays the shippers of the 25th transaction in cash 27-Mar a stock count reveals that $1000 worth of inventory has gone missing sold $1750 worth of inventory for $5,500 to customer C, 3/10 net 30. FOB 28-Mar shipping point 29-Marthe correct company pays the shippers of the 28th transaction in cash $1201 Step by Step Solution
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