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QUESTION 3 The following are the transactions that have been involved by the Perniagaan Runcit Rakyat throughout March 2020: March 1 Purchased of goods, RM2,000
QUESTION 3 The following are the transactions that have been involved by the Perniagaan Runcit Rakyat throughout March 2020: March 1 Purchased of goods, RM2,000 on credit from Dolmat Company with a credit term of 2/10, n / 30. The freight in cost is RM100. The term of delivery is FOB Shipping Point. 2 Return damaged goods to Dolmat Company worth RM150 for | purchase on March 1. 5 Selling groceries to customers in cash worth RM800. The cost of goods sold is RM420. 6 Give RM70 allowance to customers due to minor damage to goods that have been sold on 5 September. The cost of this 10 Pay the balance due to Dolmat Company for trading on 1 March. 21 Selling groceries worth RM1,500 on credit to En. Budiman, with credit terms, 1/10, n / 30. The cost of these items sold is 30 Receiving the balance due from Mr. Budiman for his purchase on 21 September. Required: Journalize the above transactions into a general journal assuming the company uses; a) Perpetual inventory system. b) Periodic inventory system
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