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Question4 Kalimuthu Hardware Store completed the following merchandising transactions in the month of June. At the beginning of June, the ledger of Kalimuthu Hardware Store
Question4 Kalimuthu Hardware Store completed the following merchandising transactions in the month of June. At the beginning of June, the ledger of Kalimuthu Hardware Store showed Cash of RM20,00Q and Kalimuthu, Capital of RM10,000 Purchased merchandise on account from Kei Wholesale Supply RM8,000, term un 2/10, n/30 merchandise sold was RM4 100. RM1.609. RM6.000 on May 2. 2 Sold merchandise on account RM6,000, term 1/10, n/30. The cost of the 5Received credit from Kei Wholesale Supply for merchandise returned 9 Received collections in full, less discounts, from customers billed on sales of 10Paid Kei Wholesale Supply in full, less discount. 11Purchased supplies for cash RM1.L00 12Purchased merchandise for cash RM4700. 15 Received refund for poor quality merchandise from supplier on cash purchase RM850 17Purchase merchandise from Ichiban Distributors RM2,909, FOB shipping point, terms 2/10, n/30 19Paid freight on May 17 purchase RM200 24 Sold merchandise for cash RM7 200 The merchandise sold had a cost of RM3.600 Purchased merchandise from Teguh Sdn Bhd RM3,000, FOB destination, terms 2/10, n/30 Paid Ichiban Distributors in full, less discount. Made refunds to cash customers for defective merchandise RM400. The returned merchandise had a scrap 25 27 29 value of RM100 31 Sold merchandise on account RM2,600, terms n/30. The cost of the merchandise sold was RM1120 Prepare the June transactions using a perpetual inventory system
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