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QUESTION 3 Sony Company had the following transactions in December: Dec. 2 Sony purchased $150,000 merchandise inventory on account terms, 3/10. n/30. FOB shipping point
QUESTION 3 Sony Company had the following transactions in December: Dec. 2 Sony purchased $150,000 merchandise inventory on account terms, 3/10. n/30. FOB shipping point Dec. 4 Sony returned $10,000 of the merchandise purchased on Dec. 2 because it was defective Dec. 10 Sony paid the invoice dated Dec 2 less returns and discount. Required: Prepare journal entries for these 3 transactions assuming Sony uses a perpetual inventory system For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BI U S Paragraph Arial 10pt A
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