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Selected transactions follow for Runner Sports Ltd . during the company's first month of business. The company expects a return rate of 8 % and
Selected transactions follow for Runner Sports Ltd during the company's first month of business. The company expects a return rate
of and uses a perpetual inventory system.
Feb. Sold $ of merchandise to Andrew Noren on account, terms n The goods had cost Runner $
Andrew Noren returned for credit $ of the merchandise purchased on February The goods had cost Runner
$ and they were returned to inventory.
Sold $ of merchandise to Dong Corporation on account, terms The goods had cost Runner $
Sold $ of merchandise to Michael Collins for cash. The goods had cost Runner $
Sold $ of merchandise to Rafik Kurji on account, terms The goods had cost Runner $
Dong Corporation paid its account in full.
Andrew Noren purchased an additional $ of merchandise on account, terms The goods had cost Runner
$
Sold $ of merchandise to Batstone Corporation, terms n The goods had cost Runner $
Andrew Noren paid $ on account.
a
Prepare the journal entries to record each of the above transactions. List all debit entries before credit entries. Credit account titles
are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles
and enter for the amounts. Record entries in the order displayed in the problem statement. Round answers to the nearest whole dollar, eg
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