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Please Solve the question hurry. Answer: Carrow Traders in a merchandiser that uses the perpetual inventory system They had the following transactions is the month
Please Solve the question hurry. Answer: Carrow Traders in a merchandiser that uses the perpetual inventory system They had the following transactions is the month of May, 2019. Purchased inventory on account from Frodo Inc. for 50,000, terms 2/10, 1/30, FOB Shipping Point. 1-May Appropriate party paid the freight of 1,000 in cash Sold inventory to Star Traders for 25,000 BDT. The cost of this inventory was 12,000 BDT. Terms 4/15, n/30, FOB Destination. 3-May Freight of 1,500 BDT was paid by the appropriate party in cash 5-May Returned inventory of 10,000 BDT to Frodo Inc. Received credit. 7-May Paid Frodo Inc. in full less any applicable discounts. Sold inventory on account to Reaper Inc. for 80,000 BDT. The cost of the inventory was 40,000 BDT. Terms 5/15, n/30. FOB Shipping 9-May point. The appropriate party paid the Freight of 1,000 in cash Star traders returned 5,000 BDT worth of inventory on account of 10-May being damaged. These inventories have a salvage value of 500 BDT. Received payment from Star Traders in full less any applicable 12-May discounts. Purchased inventory on account from Baggins Inc. for 90,000 BDT. Terms 3/10, 1/30, FOB Destination. Appropriate party paid for the 20-May freight of 500 BDT in cash. 27-May Received payment from Reaper in full less any applicable discount. 30-May Returned inventory of 5,000 BDT to Baggins and received credit. Journalize these transactions for Carrow Traders. Task
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