n 100% + 50% me The following transactions occurred during the year ended December 31, 20X9, for Harry's Bargain Basement, Inc., a retail company that uses a periodic inventory system: a) Sold merchandise on account for $516,000. The terms of sale were 2/10, n/30. b) Sales returns and allowances were given to customers totaling $ 16,000 (gross sales price). c) The balance owed on account from 20x9 sales was collected within the discount period during 20X9. Selected general ledger account balances at December 31, 20X9, were as follows: Debit Credit Inventory 50,000 Purchases 275,000 Purchases returns and allowances... 14,000 Purchases discounts ......... 3,000 Freight-in ....... . 2,000 This is the January 1, 2009, inventory balance based on a count. The December 31, 20X9, inventory based on a count is $60,000. Prepare journal entries in summary fomn for the year) that were made to record transactions a b, and c. Prepare a partial income statement through gross profit for the year ended December 31, 20X9. Ch 4 Sec 8 (Shift +c) Pg. 97 (Shift + p) Scroll Up (Shift + s) 0 Using the facts from exercise 4.9, prepare journal entry (C) on Harry's Bargain Basement, Inc.'s books assuming customers did not make payments within the discount period and then prepare a revised partial income statement through gross profit for the year ended December 31, 20X9. Scroll Down (s) 99 E4.11 The following transactions occurred during the year for Dave's TVs, Inc., a retail company that uses a perpetual inventory system and records purchases net of any discounts offered March 1k Purchased inventory for $7.000 ( price) The terms of the purchase were Pg. 99 (p) MacBook Air