Required information [The following information applies to the questions displayed below.] Home Hardware reported beginning inventory of 25 shovels, for a total cost of $250. The company had the following transactions during the month: Jan 2 Sold 6 shovels on account at a selling price of $15 per unit. 16 Sold 11 shovels on account at a selling price of $15 per unit 18 Bought 9 shovels on account at a cost of $10 per unit 19 Sold 11 shovels on account at a selling price of $15 per unit 24 Bought 11 shovels on account at a cost of $10 per unit. 31 Counted inventory and determined that 16 units were on hand. Homework Assignment Subm Help Saved Save & Exit Check my work 2. Prepare the journal entries that would be recorded using a perpetual inventory system, including any "book-to-physical" adjustment that might be needed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 2 5 6 7 9 Sold 6 shovels on account at a selling price of $15 per unit. Record the transaction Note: Enter debits before credits. General Journal Date Debit Credit January 02 co LO Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the cost of goods sold under the perpetual inventory system. Note: Enter debits before credits. Debit Date General Journal Credit January 02 Journal entry worksheet 1 2 3 4 5 6 7 Sold 11 shovels on account at a selling price of $15 per unit. Record the transaction. Note: Enter debits before credits. General Journal Date Debit Credit January 16 Journal entry worksheet 1 2 4 5 7 9 Record the cost of goods sold under the perpetual inventory system. Note: Enter debits before credits. Date General Journal Debit Credit January 16 Journal entry worksheet 1 2 3 5 6 7 8 9 Bought 9 shovels on account at a cost of $10 per unit. Record the transaction Note: Enter debits before credits. Date General Journal Debit Credit January 18 Journal entry worksheet K1 2 3 4 5 6 7 8 9 Sold 11 shovels on account at a selling price of $15 per unit. Record the transaction Note: Enter debits before credits. Debit Date General Journal Credit January 19 LO Journal entry worksheet 2 4 5 6 7 Record the cost of goods sold under the perpetual inventory system. Note: Enter debits before credits. Date General Journal Debit Credit January 19 Journal entry worksheet 2 5 7 8 9 Bought 11 shovels on account at a cost of $10 per unit. Record the transaction. Note: Enter debits before credits. Credit Date General Journal Debit January 24 CO Journal entry worksheet 1 2 3 4 5 6 9 At month end, counted inventory and determined that 16 units were on hand. Record the "book-to-physical" adjustment. Note: Enter debits before credits. Date General Journal Debit Credit January 31 7
