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On September 6, 2022, Food Wholesalers purchased $2,200 worth of dried fruit inventory plus $110 for freight charges on account. On September 17, Food Wholesalers
On September 6, 2022, Food Wholesalers purchased $2,200 worth of dried fruit inventory plus $110 for freight charges on account. On September 17, Food Wholesalers sold all of the dried fruit inventory to Hoblaws Grocers for $4,440 on account. As the bookkeeper for Food Wholesalers, journalize the transactions using the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. For the sale of inventory transactions, enter the revenue transaction first. Prepare the journal entries for Food Wholesalers on September 6 and 17 respectively. Record the sales transaction before the cost transaction. Date Account Title and Explanation 2022 Sep 6 Merchandise Inventory Sep 17 Accounts Payable To purchase inventory on account Sep 17 To record sales on account To record cost of goods sold O Debit Credit
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