On March 3 Byrd inc. purchases inventory on account for 3700 with invoice terms of 4/10, n/30.

On March 3, Byrde Inc purchases inventory on account for $3,700 with invoice terms of 4/10,n/30. Freight costs of $290, related to this purchase, were paid on March 5. On March 6, upon closer inspection, Byrde finds defective inventory with a cost of $300 and returns it. On March 12, Byrde pays the amount due for the March 3 purchase. Then, on March 29, Byrde sells the entire inventory which had been purchased on March 3, less the return, for $5,200 on account. Record all transactions for Byrde, assuming the company uses a perpetual inventory system. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) Journal entry worksheet Sit. pays s purchase. Then, on had been purchased on March 3, less the return, for $5,200 on account. d all transactions for Byrde, assuming the company uses a perpetual inventory syst action/event, select "No Journal Entry Required" in the first account field.) new transaction list Journal entry worksheet