Q 2

Homework: Chapter 5 Score: 0 of 5 pts E5B-31 (book/static) Save 20150 complete) Score: 0%, 0 of 25 pts Question Help laumalize the tollowing transactions tor Master Bicyc record salcs.) uaing the periodic inventory system Fxplanatons are nt required (Record debits tirst, then credits Exdlude explanations trom journal entries Assume the company uses the net amount to (cack the icon to view the transactions) Nov. 2. Purchased 3.400 of rne'chandisu inventory on account under lerrns 2,-10, n/COM andOB shipping point Mare Info Date Accounts Debit Credit Nov. 2 Accounts Payable Nov. 2 Purchased $3,100 of merchandise inventory on account under tems 210, n/EOM and FOB shipping point 6 Returned $800 of defective merchandise purchased on November 2. 8 Paid freight bill of $100 on November 2 purchase. 10 Sold iercharndise inventory on account for $6,100. Payrnent terms Cost of Goods Sold Delivery Expense Freight In Mercharidise Inverilory Purchase Discounts Purchase Returns and Allowances Purchases Sales Revenue were 3/15, n45 11 Paid amount owed on credit purchase of November 2, less the return nd the discount. 22 Received cash from November 10 customer in full settlement of their debt, less the discount Print Done