PERPETUAL METHOD

Account titles available for use: Cash Accounts Receivable Purchases Purchase Returns Cost of Goods Sold Purchase Allowances Sales Revenue Freight Expense Accounts Payable Purchase Discounts Sales Returns Interest Expense Inventory Supplies Freight-in Loss from Inventory Shrinkage Record the following transaction using the perpetual method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$" or commas in your answer. For compound entries list the larger debits and credits first. Sold inventory that had cost us $300 for $525 on account. DR ACCT Accounts Receivable A DR amount 525 N Account titles available for use: Cash Accounts Receivable Purchases Purchase Returns Cost of Goods Sold Purchase Allowances Sales Revenue Freight Expense Accounts Payable Purchase Discounts Sales Returns Interest Expense Inventory Supplies Freight-in Loss from Inventory Shrinkage Record the following transaction using the perpetual method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$" or commas in your answer. Freight to get the merchandise to our customer cost us $50. DR ACCT A/ DR amount A/ CR ACCT A CR amount Account titles available for use: Cash Accounts Receivable Accounts Payable Purchase Discounts Purchase Allowances Purchases Purchase Returns Cost of Goods Sold Inventory Supplies Freight-in Loss from Inventory Shrinkage Sales Revenue Sales Returns Freight Expense Interest Expense Record the following transaction using the perpetual method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$"or commas in your answer. For compound entries list the larger debits and credits first. Accepted a return of merchandise which was the wrong color for the customer. We had sold the merchandise for $72; our cost was $56. DR ACCT A/DR amount CR ACCT A CR amount Account titles available for use: Cash Accounts Receivable Purchases Purchase Allowances Accounts Payable Purchase Discounts Inventory Supplies Freight-in Purchase Returns Sales Revenue Sales Returns Cost of Goods Sold Freight Expense Interest Expense Loss from Inventory Shrinkage Record the following transaction using the perpetual method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$" or commas in your answer. For compound entries list the larger debits and credits first. Shipped merchandise that had cost us $790 to a customer for $1,050. The customer agreed to pay us in 30 days. DR ACCT A DR amount A/ CR ACCT ACR amount Account titles available for use: Cash Inventory Accounts Payable Purchase Discounts Purchases Accounts Receivable Purchase Allowances Sales Revenue Freight Expense Purchase Returns Cost of Goods Sold Sales Returns Supplies Freight-in Loss from Inventory Shrinkage Interest Expense Record the following transaction using the perpetual method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$" or commas in your answer. Received a check for the May 15 sale. DR ACCT A/ DR amount PJ CR ACCT A/ CR amount AJ