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QUESTION 1 On 5 December 2021, J Mart bought merchandise on account from Jerai Ria. The selling price of the goods was RM15,000, and

QUESTION 1 On 5 December 2021, J Mart bought merchandise on account from Jerai Ria. The selling price of the goods was RM15,000, and the cost to Jerai Ria was RM8,000. On 8 December 2022, J Mart returned defective goods with a selling price of RM2,000, and the cost was RM300. REQUIRED: Record the transactions for Jerai Ria under the perpetual inventory system.

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