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Marigold Ltd. had beginning inventory of 53 units that cost $ 103 each. During September, the company purchased 210 units on account at $ 103
Marigold Ltd. had beginning inventory of 53 units that cost $ 103 each. During September, the company purchased 210 units on account at $ 103 each returned 9 units for credit, and sold 154 units at $ 200 each on account. Journalize the September transactions, assuming that Marigold Ltd, uses a perpetual inventory system (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Inventory 21,630 31.630 Accounts Payable (To record purchase on account) accounts Payable II 927 Inventory (To record purchase return) Accounts Receivable 30,00 Sales Revende 800 (To record sales on account) Journalize the September transactions, assuming that Marigold Ltd, uses a periodic inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (To record purchase on account) (To record purchase return) (To record sales on account)
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