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Question 18 (10 points) Beverley Association had the following transactions related to its inventory for the month of March. March 5 Purchased goods costing $30,000
Question 18 (10 points) Beverley Association had the following transactions related to its inventory for the month of March. March 5 Purchased goods costing $30,000 with terms 3/10, n/30. March 14 Paid for March 5 purchase. March 18 Purchased goods for $20,000, terms 2/10, n/30. March 26 Paid for March 26 purchase. Instructions: Journalize the transactions using the perpetual inventory system and the net method of accounting for inventory purchases Journal entry format: Input journal entries in the sample format shown below. Omit all journal entry descriptions. Do not compose complete sentences. Jan. 1, debit Cash $100, credit Common Stock $100. Paragraph . Ev II O + V MacBook Pro 2: Y # 3 $ 4 % 5 LO 6 & 7 8 00 9 O / E R T -Y U I 0 o P D F G H J L
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