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Perpetual System- Recording Inventory- Related Entries Using the Gross Method a. Purchase of merchandise inventory on March 1 for $33,600 on account, terms 1/10,n/30. b.
Perpetual System- Recording Inventory- Related Entries Using the Gross Method a. Purchase of merchandise inventory on March 1 for $33,600 on account, terms 1/10,n/30. b. Paid cash of $336 for freight charges on March 1 related to the purchase. c. Returned $252 of merchandise on March 5 and received a credit from the vendor. d. Paid the balance due to the vendor on March 8. e. Sold merchandise inventory on March 15 for $21,000 cash with a cost of $14,000 Prepare journal entries for transactions a through e. - Note: Round your answers to the nearest whole dollar
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