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please journalize the transactions from Nov 2 to Nov 22 Journalize the following transactions for Mildred Bicycles using the periodic inventory system. Explanations are not
please journalize the transactions from Nov 2 to Nov 22
Journalize the following transactions for Mildred Bicycles using the periodic inventory system. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company uses the net amount to record sales.) (Click the icon to view the transactions.) Nov. 2: Purchased $2,800 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. Date Accounts Debit Credit Nov. 2 Accounts Payable Accounts Receivable Cash Cost of Goods Sold Delivery Expense Freight In Merchandise Inventory Purchase Discounts Purchase Returns and Allowances Purchases Sales Revenue Nov. 2 Purchased $2,800 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. 6 Returned $700 of defective merchandise purchased on November 2. 8 Paid freight bill of $180 on November 2 purchase. 10 Sold merchandise inventory on account for $6,400. Payment terms were 1/15, n/45. 11 Paid amount owed on credit purchase of November 2, less the return and the discount. 22 Received cash from November 10 customer in full settlement of their debt, less the discountStep by Step Solution
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