Prepare general journal entries to record the following transactions(a) for elwood Ltd and (b) for balaclava Ltd. both companies use a periodic inventory system. ( Assume neither is registered for GST.) April 3 Elwood Ltd sold merchandise to balaclava Ltd for $3250 with terms 2/10, n/30, EXW Supplier's warehouse. April 5 Balaclava Ltd paid the freight cost of $120 April 7 Balaclava Ltd returned merchandise worth $420. April 8 Balaclava Ltd paid Elwood the amount due

o 101) Prepare general journal entries to record the following transactions for wood d Boldova itd. Both companies use a periodic inventory system (Assume neither ist or ed for April 3 Elwood ud sold merchandise to Balaclava Ltd for $3250 with terms 2/10, 1/30 EXW supplier's warehouse. Baklava Ltd paid the freight cost of $120 Blaeva Ltd returned merchandise worth $420, Balaclava Ltd pand Elwood Ltd the amount due. 1 Part 1 tal ELWOOD LTD April $3 250.00 $3 250,00 420.00 420.00 Accounts Receivable Sales Revenue Sold merchandise to Balaclava Ltd 2/10, 1/30 Sales Returns and Allowances Accounts Receivable Balaclava Ltd returned goods for credit. Cash at Bank Discount Allowed Accounts Receivable Received amount due from Balaclava Ltd. 2773.40 56.60 2830.00 April 3 53 250.00 3250.00 April 5 120.00 BALACLAVA LTD Purchases Accounts Payable Purchased merchandise from Elwood Ltd Freight inwards Cash at Bank Pd freight on purchase from Elwood Ltd Accounts Payable Purchase Returns and Allowances Returned roods to Elwood Lid for credit Accounts Payable Discount Received 120.00 Lord7 420.00 120.00 April 2330.00 60 2773.40 Pald amount due to Soft Ltd. A Partia April 53250.00 53250.00 April 7 420.00 ELWOOD LTD Accounts Receivable Sales Revenue Sold merchandise to Balaclava Ltd 2/10,30 Sales Returns and Allowances Accounts Receivable Balaclava Ltd returned foods for credit Cash at Bank Discount Allowed Accounts Receivable Received amount due from Baladava ltd 420.00 April 2773 40 56.60 us 283000 April 3 53 250.00 3250.00 April 120.00 120.00 BALACLAVA LTD Purchases Accounts Payable Purchased merchandise from Elwood Ltd. Feicht wards Cash at Bank Paid freight on purchase from Elwood Ltd Accounts Payable Purchase Returns and Allowances Returned foods to Elwood Lid for credit Accounts Payable Discount Received Cash Paid amount due to Soft Ltd Aprs 420.00 420.00 April 8 2830.00 56.60 2772.40 d Kingdom) o 101) Prepare general journal entries to record the following transactions for wood d Boldova itd. Both companies use a periodic inventory system (Assume neither ist or ed for April 3 Elwood ud sold merchandise to Balaclava Ltd for $3250 with terms 2/10, 1/30 EXW supplier's warehouse. Baklava Ltd paid the freight cost of $120 Blaeva Ltd returned merchandise worth $420, Balaclava Ltd pand Elwood Ltd the amount due. 1 Part 1 tal ELWOOD LTD April $3 250.00 $3 250,00 420.00 420.00 Accounts Receivable Sales Revenue Sold merchandise to Balaclava Ltd 2/10, 1/30 Sales Returns and Allowances Accounts Receivable Balaclava Ltd returned goods for credit. Cash at Bank Discount Allowed Accounts Receivable Received amount due from Balaclava Ltd. 2773.40 56.60 2830.00 April 3 53 250.00 3250.00 April 5 120.00 BALACLAVA LTD Purchases Accounts Payable Purchased merchandise from Elwood Ltd Freight inwards Cash at Bank Pd freight on purchase from Elwood Ltd Accounts Payable Purchase Returns and Allowances Returned roods to Elwood Lid for credit Accounts Payable Discount Received 120.00 Lord7 420.00 120.00 April 2330.00 60 2773.40 Pald amount due to Soft Ltd. A Partia April 53250.00 53250.00 April 7 420.00 ELWOOD LTD Accounts Receivable Sales Revenue Sold merchandise to Balaclava Ltd 2/10,30 Sales Returns and Allowances Accounts Receivable Balaclava Ltd returned foods for credit Cash at Bank Discount Allowed Accounts Receivable Received amount due from Baladava ltd 420.00 April 2773 40 56.60 us 283000 April 3 53 250.00 3250.00 April 120.00 120.00 BALACLAVA LTD Purchases Accounts Payable Purchased merchandise from Elwood Ltd. Feicht wards Cash at Bank Paid freight on purchase from Elwood Ltd Accounts Payable Purchase Returns and Allowances Returned foods to Elwood Lid for credit Accounts Payable Discount Received Cash Paid amount due to Soft Ltd Aprs 420.00 420.00 April 8 2830.00 56.60 2772.40 d Kingdom)