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please solve 1. Below are a list of transactions for a retail store: Mar 2 Purchased merchandise from Cyclone Company under the following termis: $3,600
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1. Below are a list of transactions for a retail store: Mar 2 Purchased merchandise from Cyclone Company under the following termis: $3,600 invoice price, 2/15,n/60,FOB shipping. 3 Paid $200 for shipping charges on the purchase of March 2. 4 Returned to Cyclone Company unacceptable merchandise that had an invoice price of $600. 8 Sold merchandise for $4,800: terms y10,n/30 (cost of sales $4,100 ). 10 Customer returned items from March 8 sale for wrong sizing worth $750 (cost of sales was $500 ) 16 Sent a cheque to Cycione Company for the March 2 purchase, net the returned merchandise and applicable discount. 17 The customer paid the balance from the March 8 transaction, net the returned merchandise and applicable discount. Journalize each of the following transactions assuming a perpetual inventory system Step by Step Solution
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