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On March 3, Byrde Inc purchases inventory on account for $3,900 with invoice terms of 3/10, n/30. Freight costs of $220, related to this purchase,
On March 3, Byrde Inc purchases inventory on account for $3,900 with invoice terms of 3/10, n/30. Freight costs of $220, related to this purchase, were paid on March 5. On March 6, upon closer inspection, Byrde finds defective inventory with a cost of $700 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.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the purchase of inventory on account for $3,900, terms 3/10, n/30. Note: Enter debits before credits. Date March 03 General Journal Debit Credit Record entry Clear entry View general journal
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