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Required information 2 The following information applies to the questions displayed below) Piere imports uses the perpetual system in accounting for merchandise inventory and had
Required information 2 The following information applies to the questions displayed below) Piere imports uses the perpetual system in accounting for merchandise inventory and had the following transactions during the month of October Oct. 2 Purchased merchandise at a $3,000 price ($2.940 net), Invoice dated October 2, teras 2/10, 1/30 10 Returned $500 (5490 net) of merchandise purchased on October 2, and debited its accounts payable for that amount. 17 Purchased merchandise at a $5,400 price ($5,292 net), Invoice dated October 17, teens 2/10, 1/30. 27 Pald for the merchandise purchased on October 17, less the discount 31 Paid for the merchandise purchased on October 2. Q (b) Prepare entries to record the above transactions assuming that Pere Imports records invoices at net amounts View transaction list Journal entry worksheet 1 2 3 4 5 > Purchased merchandise at a $3,000 price ($2,940 net), invoice dated October 2, terms 2/10, n/30. W Note: Enter debits before credits. Date General Journal Debit Credit Oct 02 Record entry Clear entry View general journal Journal entry worksheet ( Purchased merchandise at a $5,400 price ($5,292 net), invoice dated October 17, terms 2/10, n/30. Note: Enter debits before credits. Date General Journal Debit Credit Oct 17 Record entry Clear entry View general Journal Journal entry worksheet Paid for the merchandise purchased on October 17, less the discount. Note: Enter debits before credits. Date General Journal Debit Credit Oct 27 Record entry Clear entry View general Journal Journal entry worksheet Paid for the merchandise purchased on October 2. (Payment was mistakenly delayed, which caused the discount to be lost.) Note: Enter debits before credits. Date General Journal Debit Credit Oct 31 Record entry Clear entry View general journal
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