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Recording Purchases Dawson Enterprises, uses the perpetual system to record inventory transactions. Dawson had the following transactions in April: a. On April 1, Dawson purchased
Recording Purchases Dawson Enterprises, uses the perpetual system to record inventory transactions. Dawson had the following transactions in April: a. On April 1, Dawson purchased merchandise on credit for $21,900 with terms 2/10, n/30. b. On April 2, Dawson purchased merchandise on credit for $24,900 with terms 3/15, n/25. c. On April 9, Dawson paid for the purchase made on April 1. d. On April 25, Dawson paid for the merchandise purchased on April 2. Required: Prepare journal entries for these four transactions. If an amount box does not require an entry, leave it blank. April 1 Purchases April 2 April 9 April 25 Recording Purchases Dawson Enterprises uses the perpetual system to record inventory transactions. Dawson had the following transactions in April: a. On April 1, Dawson purchased merchandise on credit for $21,900 with terms 2/10,n/30. b. On April 2, Dawson purchased merchandise on credit for $24,900 with terms 3/15,n/25. c. On April 9, Dawson paid for the purchase made on Aprit 1. d. On April 25, Dawson paid for the merchandise purchased on April 2. Required: Prepare journal entries for these four transactions. If an amount box does not require an entry, leave it blank
Recording Purchases Dawson Enterprises, uses the perpetual system to record inventory transactions. Dawson had the following transactions in April: a. On April 1, Dawson purchased merchandise on credit for $21,900 with terms 2/10, n/30. b. On April 2, Dawson purchased merchandise on credit for $24,900 with terms 3/15, n/25. c. On April 9, Dawson paid for the purchase made on April 1. d. On April 25, Dawson paid for the merchandise purchased on April 2. Required: Prepare journal entries for these four transactions. If an amount box does not require an entry, leave it blank. April 1 Purchases April 2 April 9 April 25
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