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Rite Shoes was involved in the transactions described below. Purchased $10,100 of inventory on account. Paid weekly salaries, $1,110. Recorded sales for the first week:
Rite Shoes was involved in the transactions described below.
- Purchased $10,100 of inventory on account.
- Paid weekly salaries, $1,110.
- Recorded sales for the first week: Cash: $9,000; On account: $7,200.
- Paid for inventory purchased in event (1).
- Placed an order for $8,100 of inventory.
Required:
Prepare the appropriate journal entry for each transaction
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