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Prepare journal entries to record the following transactions of Recycled Pashion retafl stope. Recysien. Fashion uses a perpetual inventory system and the gross method. Mar.
Prepare journal entries to record the following transactions of Recycled Pashion retafl stope. Recysien. Fashion uses a perpetual inventory system and the gross method.
Mar. Purchased $ of merchundise from Green World Company with oredit vermas of wets invaice dated March and FOB shipping point.
Prid $ cash for shipping charges on the March purthase.
Relurned la GreenWorld unacceptable merchundise that had an invoice price of $
Paid Green World for the March purchase, net of the discount and she refurned merchandise
Purchased $ of merchandise from PeopleFirst Cokp. with credit terms of is voice dated March and FOB destination.
After negotations, received from People Eir ist a $ allowaice for scuffed merchandise rowand the $ owed on the March purchase.
Seut check to PeopleFirst paying for the March purchaise, net of the allowance and che dismume
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