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Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a perpetual inventory system and the gross method. shipping
Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a perpetual inventory system and the gross method. shipping point.
March Paid $ cash for shipping charges on the March purchase.
March Returned to GreenWorld unacceptable merchandise that had an invoice price of $
March Paid GreenWorld for the March purchase, net of the discount and the returned merchandise. FOB destination. March purchase.
Journal entry worksheet
Sent check to PeopleFirst paying for the March purchase, net of the allowance and the discount.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditMarch Accounts payablePeopleFirst,Merchandise inventory,,
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