REQUIREMENT ONE

Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Record debits first, then credits. Exclude explanations from journal entries.)

JAN 13 Partytime TOys returns 19,000 dollars of the merchandise to pegablock due to ddamage of shipment

JAN 15 PARTYTIME TOYS PAID THE AMOUNT DUE

Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Partytime Toys? 6 Partytime Toys buys $190,800 worth of Pegalocok toys on account with credit terms of 2/10,n/30. 13 Partytime Toys returns $19,000 of the merchandise to PegaBlock due to damage during shipment. 15 Partytime Toys paid the amount due, less the return and discount. Jan. 6: Partytime Toys buys $190,800 worth of PegaBlock toys on account with credit terms of 2 / 10, n / 30. Credit Date What Do You Think? Accounts Debit Jan. 6 Jan. 6 Debit Credit Date Accounts Jan. 13 2. In the tinal analysis, how much did the inventory cost Partytime Toys Jan. 15: Partytime Toys paid the amount due, less the return and discount. Date Accounts Debit Credit le ToyS Date Accounts Debit Credit Jan. 15