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please hlep me answer all of the parts to this ONE question. I will like your response. John's Specialty Store uses a perpetual inventory system.
please hlep me answer all of the parts to this ONE question. I will like your response.
John's Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May 1. John's purchased merchandise on account for $5,000 Freight charges of $300 were paid in cash 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $600 and John's account was credited by the supplier 3. Merchandise costing $2,800 was sold for $5,200 in cash, Required: Prepare the necessary Journal entries to record these transactions (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 Record the merchandise purchased on account for $5,000 Nota: Enter debits before credits Transaction General Journal Dobit Credit Racord entry Clear entry View general Journal John's Specialty Store uses a perpetual Inventory system. The following are some Inventory transactions for the month of May 1. John's purchased merchandise on account for $5.000. Freight charges of $300 were paid in cash 2 John's returned some of the merchandise purchased in the cost of the merchandise was $600 and John's account was credited by the supplier 3 Merchandise costing $2800 was sold for $5,200 in cash Required: Prepare the necessary journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Step by Step Solution
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