one question, need help thank you!!
Following are the merchandising transactions for Dollar Store, Nov. 1 Dollar Store purchases merchandise for $1,500 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. 5 Dollar Store pays cash for the November 1 purchase. 7 Dollar Store discovers and returns $200 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. 10 Dollar Store pays $90 cash for transportation costs for the November 1 purchase. 13 Dollar Store sells merchandise for $1,600 with terms n/30. The cost of the merchandise is $800. 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $160 and cost $80; the items were not damaged and were returned to inventory. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method. View transaction list Journal entry worksheet 1 2 34 5 6 7 8 Dollar Store purchases merchandise for $1,500 on terms of 2/5, 1/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits Date General Journal Debit Credit Nov 01 Journal entry worksheet Dollar Store purchases merchandise for $1,500 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 Dollar Store pays cash for the November 1 purchase. Note: Enter debits before credits. . Date General Journal Debit Credit Nov 05 Record entry Clear entry View general journal Journal entry worksheet Dollar Store sells merchandise for $1,600 with terms n/30. Note: Enter debits before credits. Date General Journal Debit Credit Nov 13 Record entry Clear entry View general journal Journal entry worksheet 12 3 4 5 6 7 8 The cost of the merchandise is $800. Note: Enter debits before credits. Date General Journal Debit Credit Nov 13 Record entry Clear entry View general journal Journal entry worksheet 12 3 4 5 6 7 8 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $160. Note: Enter debits before credits. Date General Journal Debit Credit Nov 16 Record entry Clear entry View general journal Journal entry worksheet