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Please fill in the blanks Dawson Enterprises uses the perpetual system to record Inventory transactions. In a recent month, Dawson engaged in the following transactions:
Please fill in the blanks Dawson Enterprises uses the perpetual system to record Inventory transactions. In a recent month, Dawson engaged in the following transactions: a. On April 1, Dawson purchased merchandise on credit for $21,900 with terms 2/10,n/30. b. On April 2, Dawson purchased merchandise on credit for $24,200 with terms 3/15, n/25 c. On April 9, Dawson paid for the purchase made on April 1. d. On April 25, Dawson paid for the merchandise purchased on April 2. Required: Prepare journal entries for these four transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 1 Inventory Accounts Payable (Purchased Inventory on credit) Apr. 2 Inventory Accounts Payable (Purchased Inventory on credit) Apr. 9 Accounts Payable Cash Inventory (Paid within the discount period) Apr. 25 Accounts Payable Cash (Paid outside the discount period) Feedback
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